What Happens in a Divorce if Someone has a Pension?
This article is brought to you by the law firm of Pritzke & Davis Trying to determine how to divide a pension can be very involved. It is best to seek the help of an attorney if you or your spouse are seeking a divorce and either of you has a pension. How does the Court decide who gets what in a divorce? When a couple files a request with the Court for a divorce, the Court will divide the “marital estate”. This will include all assets and debts the couple had on the day the Petition for Dissolution was filed. To be a part of the marital estate, someone in the marriage must have a “present and vested interest” in the asset on the day the divorce was filed. What is a present and vested interest? If a person has earned a present right to the asset that cannot be taken away, then the asset is considered vested. The term present right means that even if you do not have the asset now, you are promised the asset and no one can take it away. This rule applies to pensions. For example, Joe has
