Kelly Byrnes & Danker, PLLC

high-asset divorce Archives

Reducing the effect of divorce on retirement

Regardless of how close or far away retirement might be for a Virginia couple, divorce could make a significant dent in their retirement savings. Further complicating matters may be the fact that it can be difficult to set aside emotions during divorce negotiations. However, this will be necessary to ensure future financial security.

Divorce and what may happen to a business

Virginia business owners who are getting married might wonder how they can ensure that the company does not become a point of contention if there is a divorce. With a prenuptial agreement, the couple can establish that the business is separate property, and it will not be part of the process of property division in a divorce.

Divorce stress can impact performance of executives and owners

Business owners and members of upper management in Virginia often have a lot at stake when they negotiate their divorces. Decisions about the division of real estate, retirement accounts and business assets often involve tension or outright disputes. The possibility of paying child or spousal support could add to their concerns. The stress could spill over into workplace performance, or the divorce could alter the ownership of a company.

Dividing a 401(k) after divorce requires care

In many divorces, one or both parties will have a 401(k) retirement account through an employer. As with other assets, the 401(k) is usually considered a part of the marital estate and is subject to division in Virginia. But when dividing these retirement accounts, special care must be taken to ensure the division does not become a taxable event.

Rebuilding retirement savings after divorce

Getting divorced in Virginia can have a very negative impact on retirement plans. When spouses get divorced, they will have to divide all of their marital assets, including the money that they have saved in their retirement accounts. However, there are several ways that people can recover after their divorces so that they can still retire comfortably.

Contact the Firm

Discuss Your Case With A Lawyer

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Kelly Byrnes & Danker, PLLC

Kelly Byrnes & Danker, PLLC

3975 Fair Ridge Drive
Suite 275N
Fairfax, VA 22033

Phone: 703-224-0888
Fax: 703-268-5888
Fairfax Law Office Map

105 Loudoun St, SW
Office #4
Leesburg, VA 20175

Map & Directions