How do i determine the cash value of mypension my spouse will be entitled to after our divorce?
Asked on May 03rd, 2015 on Family Law - New Jersey
More details to this question:
I am a teacher with 16 years into my pension plan. Upon our divorce, I would like to pay off the amount I owe my spouse. How can this amont be determined?
I have seen your question.
My name is David Salvaggio. I have more than 35 years of legal experience and head a law firm that devotes its practice exclusively to New Jersey Divorce and Family Law matters.
Please feel free to take a look at our Firm Website (www.salvaggiolaw.com) for further information about my firm.
In your question, you do not say whether where you are if in the divorce process or if you have a lawyer representing you.
If you have a lawyer, ask your lawyer this question, which he/she can easily answer.
If you don't have a lawyer, the answer to your question is: You need to have a valuation done with respect to the "marital" value of your pension, as that is defined under New Jersey law. There are various "pension valuation" companies that can perform the calculation, as long as you know exactly what information to give them.
I would be happy to have a very brief telephone call with you, to get a few more facts. What you tell me remains confidential and there is no charge for the call.
Your question does not specify the town in which you live. My firm's offices are located in Morristown, NJ (Morris County). We handle cases in all of the counties in northern and central New Jersey, including not only Morris County but also Somerset, Hunterdon, Sussex, Warren, Passaic, Bergen, Hudson, Middlesex and Monmouth counties.
If you live in one of those counties and wish to schedule a brief, confidential telephone call with me, please call my office (973-455-1220) and speak to the firm’s Client Intake Coordinator Dara Vanderhoof. She will be able to arrange a mutually convenient date and time for the call.
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