QUESTION

My wife working place offer her 401k pension plan with great benefit, they mach the annually amount she put in. we want to use this benefit.

Asked on Jul 28th, 2012 on Divorce - Georgia
More details to this question:
the pension will be on her name only. How can I protect myself in case of a divorce? How can I make sure to get benefits for the time we are married.
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1 ANSWER

There is no way to “make sure” you get a portion of her pension.  However, Georgia uses the "equitable distribution" approach to divide property upon divorce. Under this approach, each spouse takes their separate property and the court divides the property acquired during the marriage on an equitable basis. The courts are generally authorized to effectuate an equitable distribution of all property, real or personal, (including pensions or other employment benefits) acquired by either spouse during the marriage.   Upon divorce, each spouse would be entitled to the "separate property" that each spouse owned prior to the marriage, plus any appreciation the property has earned. "Separate property" would also include any gift, bequest, devise or descent acquired by one spouse before or during the marriage.   Although each spouse would take out of the marriage their own separate property, all of the remaining property or "marital property" would be divided under an "equitable distribution" approach. Some of the factors considered by the court in deciding how to equitably divide the property include:   1. standard of living during marriage; 2. earning capacities of both parties, 3. the education and vocational skills of both parties; 4. current income of both parties; 5. age and heath of the parties; 6. assets, debts, and liabilities of the parties; 7. needs of each of the parties; 8. provisions for the custody of the minor children; 9. each party's contribution to the acquisition of existing marital assets; 10. each party's enhancement of the value of existing marital assets; 11. whether either party has dissipated or diminished the value of the martial assets by wrongful conduct.  
Answered on Jul 30th, 2012 at 7:49 AM

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