Pensions, individual retirement accounts (IRAs), 401(k)s and other retirement savings plans and tax advantaged plans are often a core part of someone’s net worth. In the context of a divorce, depending on when the assets were accumulated, they are subject to an equitable division between spouses. To avoid tax problems, a Court will typically enter…
Legal Articles
Dividing Pensions in a Divorce
Martial property — generally, all property accumulated during a marriage — must be divided by the Court in a divorce proceeding in a manner that is just and equitable. Pension benefits can be marital property subject to division. In many circumstances, a pension is one of the largest assets in a divorce because it is…
Pensions & Retirement Accounts in a Divorce
In a divorce, the court must divide all marital property (i.e., assets generally accrued by either party during the marriage, including debts and liabilities) and award the property to each spouse. A trial court has “broad discretion” in dividing property, and the “division of marital property need not be equal, but must only be fair and…
Qualified Domestic Relations Order: Support and Maintenance
In divorces in Missouri, a Court is empowered to make an equitable division of property if the parties cannot come to an agreement. Things such as savings accounts and brokerage accounts are easy to divide. On the other hand, things like a home, retirement accounts, IRAs, and other types of pensions are not easy to…