Featherston Law Group
Free initial Consultation
Local314-400-2302 Toll Free888-203-1942
Contact Menu
Practice Areas View All
Melissa A. Featherston

You may be entitled to your spouse's pension or retirement plan

When dividing assets during divorce, you may assume you simply have to split up what you own. This is often very tangible: the family home, the car, the vacation home, your wine collect, your home furnishings, the contents of your bank account, and the like. These are things you see and interact with all the time.

However, experts note that one of the most valuable things you or your spouse may own is simply a retirement plan.

Think about the long-term value. Perhaps your home is worth $400,000. You want to sell it and get your $200,000. That may feel like a lot as a lump sum, but what if your spouse has a retirement plan that is going to pay him or her $100,000 per year after retirement?

That's money you were planning on using to support yourself for years to come. You may still be entitled to a portion of it. If you get 50 percent, for example, that's $50,000 a year. In just four years, you'll have gotten the same amount as the value of your entire home -- or your half of it, at least -- and it could continue for decades.

People often forget about retirement funds and pensions if they haven't retired and aren't actually using them yet. As you can see, though, doing this means you could be forgetting about the most important asset in your relationship.

This shows how crucial it is to know all of your rights and what you may legally be able to claim in a divorce. If you want to learn more, we've put together a very informative website that can help.

No Comments

Leave a comment
Comment Information
Featherston Law Group
Local314-400-2302 Toll Free888-203-1942