Child Custody Clarksville - Military Divorce

Military Divorce and child support

In some states, divorce laws provide that in cases where a marriage annulment or marital annulment is requested, and there are children of the marriage, that those children should be afforded the same rights, protections and parental financial support, including that the children must not considered illegitimate offspring of the parents, that other children in the state get.
Child support will be determined on divorce rules unless the judge sees reason for child support to be independent of these laws. Monetary child support can be assigned to one or both parties. For example, child support in Georgia is determined by Georgia divorce statutes and a mathematical formula.

Every Georgia family has access to OCSS services, including help in finding non-custodial parents, establishing paternity, establishing and enforcing child support and medical support orders, and collecting and distributing payments.

Divorce Lawyers Clarksville TN

Clarksville TN Divorce Lawyers - Family Attorneys

Retirement Benefits in a Divorce - All you wanted to know

Divorce Lawyer Clarksville Tennessee | TN Military Divorce Attorney

Community property includes accrued or vested retirement benefits. This means they need to be divided in a divorce. Retirement benefits that fall under community property include military pensions, veteran's educational benefits, ERISA funds, IRAs, Keoghs, Employee Stock Option Plans (ESOPS), 401K and 403K plans, etc.

Few retirement benefits are not classified as community property. These are:
• Social Security payments
• Compensation for military injuries
• Worker's compensation disability awards

Irrespective of the duration of the marriage, retirement benefits should be discussed and resolved. For instance, the petition, marital settlement agreement and judgment must all provide either for the party’s waiver of retirement benefits or the division of any such benefits. A spouse must waive retirement benefits only if that party’s share is worth very little.
There are two methods for dividing retirement benefits: (1) the present-day valuation buy-out, and (2) division into two accounts. In the first, the spouse without the retirement benefits takes the present-day value of his or her interest in the retirement benefit and exchanges it for something else of equal value, such as cash or other assets. Stock options and pension plans where a person must work for a certain number of years may be worth more than you imagine. It may be wise to use the services of a professional pension actuary or appraiser before taking a decision.
When dividing a retirement account, you must make sure you don't lose any tax advantages. A Qualified Domestic Relations Order (QDRO) is needed to transfer a share of retirement funds from the spouse participating in the retirement plan to the other spouse.