Of the issues an attorney may face in a divorce practice, few are more complex than equitable division of property, if government pensions are involved. CSRS (Civil Service Retirement System), FERS (Federal Employees Retirement System), Thrift Savings Plan (TSP), and more at the federal level. Add in FEGLI (Federal Employee Group Life Insurance) and the client or opposing spouse’s participation on FEHB (Federal Employee Health Benefits) and the situation gets even more complex. And you can’t take care of these property divisions with that standard QDRO you’ve been using.
If either spouse was a military member, you have to factor in military retirements (Standard, High-three and Redux), Military Thrift Savings Plan, USFSPA (Uniformed Services Former Spouses’ Protection Act), SGLI (Serviceman’s Government Life Insurance) and others. If either party has claims with the Veterans Administration then any percentage of disability may affect property valuation and ability to pay….
Was one of the spouses a military reservist? That means they wore the same uniform as the active duty military retirees, but their retirement program is completely different and must be valued in very different ways.
Perhaps your client or the other spouse moved into state or county employment, so PERA (Public Employees Retirement Association) in its many flavors must be expertly considered.
Retired Pay Analysis¿½ is an attorney-owned firm that can cut through the alphabet soup to reach a bottom-line for you and your client in a minimum time at a very reasonable cost. Improperly valuing a client or an opposing spouse’s retirement benefits is a common legal mistake. It results in grave disservice to the client and can even lead to malpractice claims. Contact Retired Pay Analysis for an evaluation and a recommendation of necessary or optional service. An independent, expert (NPV) Net Present Value for the important government pensions and annuities involved will increase your confidence and your client will know he or she selected the right attorney.
Contact: William Carew, Attorney at Law for more information
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- More Details on TRICARE Plans
- Important Deadline Approaches — Don’t Let It Slip By Unconsidered
- Important Deadline Approaches — Don’t Let It Slip By Unconsidered
- Types of Retirement — Our Roadmap
- TRICARE Flavors and How To Taste Them
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