Whether you’re nearing retirement age or not quite there yet, your retirement or pension plan is likely one of your largest and most valuable assets. If you and your partner are headed towards divorce, any of these savings earned by your or your ex during your...
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Division Of Pensions
You deserve a fair share of your spouse’s retirement savings
When couples get divorced, they sometimes endure seemingly endless negotiations about who gets what in the final decree. Dividing assets is never enjoyable for either party, but it is necessary. After all, when you put yourself and a large portion of your life into a...
Things to consider before splitting a pension
When you have complicated assets to divide, like a pension, it's important to take a moment and consider all of the different things that your decisions today could affect for years to come. For example, here are some of the questions you need to think about when you...
Some pensions are protected from property division
When you are going through a divorce, you might have to take steps to protect your pension. While there isn't a good chance that you will walk away with 100% of it, there might be some hope for keeping your financial security intact. Before you automatically sign half...
2 reasons you shouldn’t delay a QDRO
A Qualified Domestic Relations Order (QDRO) is one of the most misunderstood parts of property division following a divorce. Most people think that their divorce decree alone is enough to grant access to their share of their ex-spouse's pension or retirement plan, but...
The Majauskas formula and pension alternatives to consider
If you and your spouse have decided to end your marriage, property division and the equitable distribution of pension benefits may be on your mind. In the state of New York, the Majauskas formula comes into play, but are there other pension distribution options to...
What to do with assets from a qualified domestic relations order
If you are working through a divorce, you may have become so caught up in division of assets that you may have overlooked one key source of value in the marriage: your spouse’s pension plan. The only way to guarantee your share of this reward is through a...
Know all options for handling the division of pension in divorce
Pensions are often a top priority when you are divorcing. The person who was working likely put a lot of time in to get the pension to where it is today. When it is time to divide this asset, there are some unique considerations to think about. One of the most...
Statement balance versus value of pensions
Dividing pensions is one of the more difficult aspects of property division in a divorce. In some cases, this matter involves more than one step. Not only do you have to divide the other marital property in the divorce, you also need to have the valuation done on the...
Methods of pension division in New York
The law in New York requires that people who are married divide any pensions that were earned during the marriage. This can be a complex undertaking because of the nature of these assets. It is important to remember that just like other assets, the division of...