Ohio men who are contemplating a divorce may benefit from learning more about different strategies designed to protect their assets and savings for retirement. Anyone who possesses substantial retirement benefits may be well-served by taking an aggressive approach towards safeguarding their future wealth. Men may benefit from exploring with our attorneys several available alternatives.
Many people overlook the substantial benefits that life insurance may provide. People involved in the military or high-value assets typically benefit from exploring the protections that are associated with life insurance. People on active duty are already covered by a low-cost life insurance policy when they are automatically enrolled in the Servicemembers Group Life Insurance. Active military personnel must be eligible in order to qualify for coverage.
The Thrift Savings Plan provides benefits synonymous to the 401(k) plans and similar programs employees receive from private companies. Many of the benefits provided by these programs may be lost in a contentious divorce. The Thrift Savings Plan can be described as a federally sponsored retirement investment and savings program designed to establish retirement income for military personnel. The U.S. Department of Labor describes qualified domestic relations order as an order that assigns or recognizes an alternate payee's right to receive the benefits designated to the participant of a retirement plan.
If you are interested in exploring your options for protecting your retirement assets, our law firm can provide assistance. If you are a father, we also have experience in working hard to protect your parental rights regarding custody and visitation orders. Our page on divorce sets forth more information on the ways we can guide you through this process.
Source: Andrew Russ Law, LLC, "Columbus Divorce Lawyer For Men: Helping You Protect Your Retirement Savings", November 06, 2014