I understand that my military pension is considered a marital asset, so what strategy can I use to retain a larger portion?
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I understand that my military pension is considered a marital asset, so what strategy can I use to retain a larger portion?
I understand that there is legislation that entitles my spouse to a portion of my military retirement based on the length of the marriage during my service; but as a marital asset it seems reasonable that it would also be equitably divided by a judge. So my question is: are there any strategies or mitigating factors that would allow me to keep a greater portion of the retirement annuity such as my spouse’s infidelity, level of education or ability to earn a living?
Asked on July 21, 2010 under Family Law, Virginia
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
Marital assets in Virginia are divided based upon the theory of equitable distribution, Marital assets are divided equitably, not equally. Your pension is a marital asset and its distribution will be balanced as against your other assets. But you yourselves would be able to come to an agreement as to distribution. So if you want more of your pension (or all of your pension) is there another asset that can be "bartered" for it? You should check with an attorney in your area as to your rights and what your options are. Good luck.
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