Legal Question in Family Law in Virginia
50/50 Retirement
My husband and I are separated after 20 years of marriage. I am retired from the military. My husband keeps telling me that he's going to get half of my retirement when we divorce. We have no minor children, we are currently selling our home, and he has an established career with his company for the past 12 years. My question is, am I also entitled to half of his retirement (401K)? I really don't want his retirement, but I also don't want him getting up to half of my retirement. Is there a way we can work this out where neither of us gets the others retirement? Is there a military law that states that I "must" give him up to half of my retirement when we divorce? I plan to file for a divorce on the grounds of irreconcilable differences.
Thanks in advance for your help.
1 Answer from Attorneys
Re: 50/50 Retirement
No federal law requires you to give up half your retirement. State law permits a court to award to the non-retiree spouse up to one half the marital portion of the pension (total time married while earning pension divided by total time earning pension). State law can also divide the marital portion of his pension, 401(k), IRA, etc. You and he can agree that each keeps his or her pension.