When you navigate your way through a New York divorce, determining how you and your one-time partner plan to split your shared assets is one of the most important matters to address. Aside from your shared home, pension benefits you or your spouse earned over the...
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Division Of Pensions
Does getting remarried impact a divided pension?
Your spouse worked for 30 years to build up a pension, and you were married for 15 years of that employment. When you got divorced, you got a qualified domestic relations order (QDRO) saying that you got 50 percent of your spouse's pension for that 15 years. In total,...
Protecting a pension using a prenuptial or postnuptial agreement
If you are planning to get married in New York, you need to think about how you will protect every asset you bring into the marriage. Even if you believe the marriage could never end in divorce, it's still a good idea to have a plan in place to protect yourself should...
Consent required when changing retirement account beneficiary
Retirement accounts are some of the biggest benefits of employment. Many companies will do all they can to match the contributions of their employees into retirement accounts. Some will go above matching the contributions as a way of enticing candidates to accept job...
Explaining alternate payee of a qualified domestic relation order
Alternate payee is a term that has been used for quite a while now and it isn't going anywhere anytime soon. This term is used when discussing pensions and who can qualify to receive the benefits of your pension when it comes to a Qualified Domestic Relation Order...
Moving a pension when you change jobs
Working in a job that provides you with a pension is one of the major benefits of your chosen profession. A pension will ensure that you get to retire at or before the retirement age of most other professionals and not have to worry about having enough money in...
Taking your pension: Lifetime payments versus lump sum
You've worked at least 25 years in a profession that offers a pension as a retirement plan. You have decided that it's time to retire. So, what do you do with that pension you've been paying into for most of your adult life? Do you take it all in one lump sum or do...
Explaining the survivors pension in New York
Pensions are important accounts that public employees and members of the military earn during their time employed and while serving the country. These accounts are handed down by the holder to the beneficiary, typically a spouse. There are ways that the pension can be...
Tips for choosing beneficiaries of your pension
For those of you who work in professions that offer pensions for your retirement, you need to know the best ways to choose beneficiaries. Each person will make different choices. Some of those choices could be detrimental to your estate. Here are some important tips...
How to leave your pension to a loved one
A pension is an important financial asset that you have earned from your years of hard work. You can use the pension during your retirement to go on vacation, pay bills, put a down payment on a new home, buy a car and however else you wish to spend it. It is your...
