What happens to my retirement if I divorce?
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What happens to my retirement if I divorce?
Pension Plans Either the divorce decree itself or a QDRO is used to move account balances from one spouse to the other as a rollover. Any pension that was earned while the divorcing spouses were married is typically considered to be joint property in most states and is subject to some form of division in a divorce.
Is retirement a marital property?
Retirement accounts are marital property, which means they are subject to equitable distribution. Depending upon the length of the marriage, the funds deposited in the retirement account(s) before the marriage are reserved to the individual who brought them into the marriage rather than being divisible.
How much of my retirement will my ex wife get?
If you’re getting Social Security retirement benefits, some members of your family may also qualify to receive benefits on your record. If they qualify, your ex-spouse, spouse, or child may receive a monthly payment of up to one-half of your retirement benefit amount.
