Splitting a pension with your ex spouse may not be something you thought about when you got married, but it is a definite reality. A pension is a marital asset, and that portion of the pension that was accrued during the time that you were married generally needs to be split with your ex spouse.

A pension earned by one spouse is usually considered a joint asset, as are other retirement accounts, such as 401(k)s, 403(b)s and IRAs, though state laws govern the latter. Usually, whatever is earned prior to the marriage remains individual property, while what is earned during the marriage is considered a joint asset.

However, the divisions of pensions in a divorce isn’t always a cut-and-dry situation. For one, unless you are actively receiving a pension (and thus know the exact details of the payment amount and frequency), it can be difficult to pin down its exact value.

Additionally, while a pension is usually considered a joint marital asset, that doesn’t mean it’s always split 50/50. The exact amount varies according to each state’s law and how much of the pension was earned during the marriage. But it’s important to remember that if you and your spouse signed a prenuptial agreement protecting your pension plan, your pension remains yours.

If you have a military or government pension, these are governed by their own specific set of rules and may not be subjected to the same rules when splitting your assets in a divorce.

If you are going to get a divorce, this is one of the items that you will need to discuss with your attorney. Ty Zdravko practices law as a divorce attorney, and family law attorney in Palm Harbor, Clearwater and the surrounding area.

For more information, visit our website at www.divorceboardcertified.com
or call (727) 787-5919.