QUESTION
If my wife and I both filed for bankruptcy, is she entitled to part of my pension?
Asked on Aug 28th, 2013 on Divorce - New York
More details to this question:
My wife and I have nothing, sold all property, only have clothing and cars. We are in a divorce. Is she entitled to part of my pension? She works part time and so do I to make ends meet.
7 ANSWERS
Family Law Attorney serving Peoria, AZ
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The Law Firm of Jessica M. Cotter, P.L.L.C.
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Arizona is a community property state. If your dissolution is in Arizona, and any of your pension was earned while you were married to her, then she would be entitled to one half of any community interest in the pension. You should consult with an experienced family law attorney to review this issue.
Answered on Sep 17th, 2013 at 10:02 AM
Pension and retirement benefits acquired during a marriage are marital assets that are subject to being divided by the divorce court. There can be some special rules if some of your benefits accrued prior to your marriage. A domestic relations order may need to be entered and qualified by the administrator of your pension plan in order to divide the account.
Answered on Sep 17th, 2013 at 2:27 AM
Commercial Contracts Attorney serving Boise, ID
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Peters Law, PLLC
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Yes, the part of pension accumulated during the marriage is community property.
Answered on Sep 16th, 2013 at 5:40 AM
Cohabitation Agreements Attorney serving Cincinnati, OH
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Cathy R. Cook, Attorney at Law
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Your pension is a marital asset to the extent it was earned during marriage. She is entitled to an equitiable share of that, which is generally an equal share.
Answered on Sep 16th, 2013 at 5:38 AM
Your spouse is entitled to one-half of your pension if it was acquired during your marriage. Bankruptcy does not affect the pension. Good luck!
Answered on Sep 13th, 2013 at 6:50 PM
Bruce Provda
Often many different things are looked at with regard to division if assets. One thing is how long you were married. In a longer marriage the pension is an asset that can be divided. You need to discuss this with your attorney.
Answered on Sep 13th, 2013 at 6:49 PM
Divorce & Family Law Attorney serving Salt Lake City, UT
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Utah Family Law LC
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Your wife is entitled to division (usually, but not always, 50-50) and a share of that portion of your pension that was accrued during the marriage, and whether either or both of you file bankruptcy has no effect on your wife's rights to a portion of your pension in divorce. Now if your pension is consumed by the bankruptcy, then your wife would not be entitled to any portion of your pension because the pension is no longer your property but that of the bankruptcy estate and will be used to pay off creditors and the bankruptcy trustee.
Answered on Sep 13th, 2013 at 6:49 PM