QUESTION
How is the retirement and/or pension protected in a divorce?
Asked on Oct 28th, 2012 on Divorce - Michigan
More details to this question:
The divorce has been finalized but one party is coming back legally to obtain part of the retirement, this is after the pension was given up in the settlemet, amongst other financial settlements. Along with having the house foreclosed upon and the agressing party having filed for a chapter 7 bankruptcy and having it been granted and the debt dischared. The party is now trying to use the former spouses child that she had co-signed a student loan for in some way against him as ammunition in the pursuit of his retirement, but as is in the state of Michigan she is no longer responsible as the co-signer since being granted her discharge of debt. Which at the time of the co-signing of the student loan the former spouses daughter was 23 years of age and would of had no legal ties between her father in terms of gaurdianship and the legalalities of the loan would have been between the daughter, the former spouse, the lender and the school.
5 ANSWERS
This is an extremely complicated question that I could write a book about. Please consult an attorney. He will respond with a number of questions that narrow what part of the question needs an answer.
Answered on Nov 12th, 2012 at 10:12 PM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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The judgment of divorce will rule. The bankruptcy of your former spouse might be an issue if it contained hold harmless causes. Generally obligations arising from a divorce judgment and student loons are not dischargeable, see an attorney with details and your judgment for a firm opinion.
Answered on Oct 29th, 2012 at 6:25 PM
Family Law Attorney serving West Bloomfield, MI
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Law Offices of Eugene Lumberg and Eric S. Lumberg
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A property settlement contained in a Judgement of Divorce is final and binding. All marital assets should have been addressed and divided. It is usual for any specific item not awarded to the opposite party to stay with the named party. Baring a find of fraud or misrepresentation, this should not change and the Court will uphold the Judgement. If the party has filed a motion to reopen the property settlement, the other party should follow proper motion practice and file a response that shows how the assets were addressed. There should be a showing that there is no support of a finding that the property settlement should be set aside or renegotiated.
Answered on Oct 29th, 2012 at 5:39 PM
Business Law Attorney serving Bingham Farms, MI
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James T. Weiner, P.C.
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First.. if the former spouse gave up her rights to your retirement .. she should not be able to go back and force you to give her part without attacking the settlement and completely undoing it. Second, the student loan is immaterial.. you are right its between your daughter and her.. HOWEVER you are wrong because her bankruptcy does not necessarily discharge the debt (I know a students liability on student loans in such a scenario is not discharged except in extreme circumstances.
Answered on Oct 29th, 2012 at 5:39 PM
Leonard A. Kaanta
In Michigan, a property settlement is considered final, unless there nwas fraud and a failure to disclose assets.
Answered on Oct 29th, 2012 at 5:39 PM