The circuit court’s equitable distribution ruling was largely correct, but it erred in awarding the wife both a 50-percent share of the husband’s Thrift Savings Plan and a monetary award from a residence the husband purchased after the separation, which amounted to a “double dip” into the account proceeds.
The circuit court found that husband withdrew funds from his TSP account and, then, bought the home in Washington with some of those funds. The circuit court awarded wife 50 percent of husband’s TSP as of January 1, 2016, which reflected the value of the account before husband withdrew funds, some of which he used to purchase the Washington home. The circuit court also awarded wife $42,500 for her share in husband’s Washington home. These awards allowed wife to “double dip” into husband’s TSP account.
Affirmed in part, reversed in part, and remanded.