Handling Marital Asset Division In Military Divorces
After divorce, you both will live on less. A court won’t approve a lopsided division of marital property, so it doesn’t make sense to further drain your assets through bitter litigation.
I am family law attorney Keith Schulefand and have more than 30 years of experience in family law service. I believe that an out-of-court solution is preferable to a division of assets dictated by a judge. I work to make sure my clients are treated fairly in property settlement negotiations. I also seek to resolve divorces with the least time, expense and hostility. If litigation is required, I keep it focused and brief.
I sit down with my clients to identify all assets, debts and post-divorce obligations. I will determine which assets are separate property, and are therefore not subject to marital property division. Before negotiations, I take the time to explore:
- What’s most important to you
- What you’re willing to give up or accept as offsets
We don’t want any surprises later. As your attorney, I will make sure the property division and separation agreement covers:
- Real estate, including the marital home
- Personal property
- Closely held businesses
- Life insurance and health insurance
- Stocks, investments and accounts
- 401(k), pensions, IRAs and deferred compensation
- Allocation of credit card and other debt
- Medical bills not paid by insurance
- Dependency exemptions for children (only one parent can claim this exemption)
- College expenses (if agreed upon or ordered by a court)
Retirement funds are often the largest assets and the biggest sources of contention in marital property division. A qualified domestic relations order (QDRO) allows each spouse to take a designated share and hold it in their own name. I can draft or review QDROs to ensure the transfer is not taxed and to verify the QDRO is divided consistent with the divorce agreement.
Bankruptcy is a common outgrowth of divorce. I can advise on whether it would be better to discharge marital debts before or after the dissolution, or to file at all.
Contact My Office Today
I provide the personal attention needed to see that your marital property division is settled in a fair and timely way. Email my office to arrange for an initial consultation.
