Determining The Amount Of Retirement Benefits Each Spouse Should Receive
When you divorce, each party is entitled to part of the retirement benefits that were accumulated during your marriage. Determining how much that is worth and when to divide it can be very complicated. Our Honolulu attorney can advise you on the division of retirement in your divorce.
At the Law Offices of Scot Stuart Brower, we know that divorce is difficult under the best of circumstances. We guide you through the process and help you think about all of the issues you need to address, including how you will divide your retirement benefits. Scot Stuart Brower works with you, as well as with your spouse and his or her attorney to come up with the best plan to separate your lives. Our goal is to reach an agreement that satisfies both of you. If we can’t achieve that, Scot Stuart Brower is an accomplished trial lawyer who knows the legal system and how to use it correctly to achieve the best possible result in your case.
The Linson Formula
Hawaii uses the Linson formula to determine the division of retirement benefits in a divorce. The case Linson v. Linson helped to set this precedent, so the formula takes its name from there. This formula uses the length of the marriage and the length of time the person is vested in the plan to determine how much each person gets as a retirement benefit.
In many situations, one member of the couple will have to wait until the retirement benefits are distributed to receive his or her share. This will depend on the type of plan and how it is administered. We have qualified domestic relations orders (QDRO) written to specify how to distribute the benefits to each party.
Scot Stuart Brower is familiar with how different retirement plans work, including military retirement benefit plans. He will review your plan and determine what portion you will keep and what may go to your spouse. He may also investigate alternatives to splitting your retirement benefit, such as giving an equally valuable piece of property or asset in trade for retirement benefits.