Divorces can sometimes involve disputes over several issues, including property division. In some cases, couples can deal with this matter in a calm, mature manner and have even been able to quickly and easily determine what is fair to both parties. While some couples may have figured out what is fair to both of them, many may be surprised to find out, later down the line, that things weren’t as fair as they seemed.
When couples work together to decide who gets what property, both parties should walk away satisfied and completely aware of what they are giving up. In addition to clearly understanding what they are giving up, they should also understand how this will affect them in the future. This is important when it comes to your pension, and many people have realized down the line that they shouldn’t have given their spouse their pension in the divorce.
Should a spouse give the other their pension, they are risking a lot. If they have received something else, such as the house or cars, it may not be of the same value as the pension. This is something to be considered, especially if the pension offers many years of benefits.
During the divorce process, if a couple has property and assets to divide, this division should be fair. Although a spouse may be getting what they want in exchange for their pension, it doesn’t mean that it is a fair division. If you are divorcing your spouse and have a pension to be divided between you and your spouse, Michael G. Putter, Attorney at Law can help you determine what is not only right but fair.