One of the biggest concerns that people have when it comes time for them to divide their assets in a divorce is what will happen to all of the money they put into their joint retirement fund. The most important thing that you need to know about pensions and retirement accounts during your divorce is that they are subject to equitable distribution, just like any of your other funds and assets. Whatever was earned throughout the course of the marriage, by either spouse, is subject to division between the two of you. It doesn’t matter if you were the spouse that worked and earned the retirement account and pension, it’s still subject to equitable distribution, and your spouse still has a right to a portion of that.
The court is going to determine what the fair portion would be. In longer term marriages that’s most likely going to be an equal division of the retirement account that was accumulated, but there are certain significant differences and there might be some exceptions that apply to your case that you might want to discuss with your attorney.
If you have questions about what might happen to your retirement funds and pensions during the equitable distribution process, speak with an experienced divorce attorney who can provide you with assistance.
Ross and Calandrillo, LLC is a full-service divorce and family law firm in Mountainside, New Jersey. For strong legal representation in all of your family law matters, contact Ross and Calandrillo, LLC to schedule a consultation.