There are multiple emotions that are associated with the end of a marriage. This is true regardless of whether the divorce is amicable, but may be especially so in contentious cases. Because of the emotional nature of this life event, some people in Virginia may make decisions, specifically regarding asset division, based on their emotions without fully understanding the implications of their choice.
For example, one woman in another state may choose to forgo her claim to her husband’s pension after 43 years of marriage, reportedly due to her anger regarding the situation. In equitable distribution states such as Virginia, assets are split amicably among husband and wife. The marital portion of the pension is the value of it between their wedding day and the day of the divorce complaint.
In many marriages, a pension is the couple’s largest asset — worth even more than the family home. Making the decision to forgo her share of the pension could have lifelong consequences for her. In most cases, it becomes difficult — if not impossible — to change such a decision once the divorce is finalized. Even if a modification is possible, it is likely to come at great investment of time and money.
It is understandable that during a divorce someone may let emotions drive decision-making. This makes it even more important for those in Virginia going through this process to have an experienced family law attorney on their side. Such a professional can ensure that they are fully aware of all of their options and the potential lifelong impacts of such a choice, including the financial ramifications of declining their portion of a pension.