Dividing Pension Benefits
Division of Pensions is a frequent concern that has been raised to me over the years. If one partner in a marriage earns substantial pension benefits over the course of a career, and the other partner did not earn a pension and the couple divorce, who gets the pension benefits?
This is an important question in many divorces, because pension money can be a major marital asset, often exceeding the value of the family home.
This is an important question in many divorces. Pension money can be a major marital asset—often exceeding the value of the family home.
Pension money earned during the marriage is marital property, and must be divided evenly by Texas law. It is true for both defined benefit pensions and defined contribution pensions. It is also true for 401(k)s, IRAs and other retirement benefits.
A Lawyer Protecting Your Pension Fund Rights
Not every divorce lawyer is qualified to manage the appropriate division of pension benefits. I am divorce lawyer V. Wayne Ward. I work with every type of pension plan, including types that are distinct from traditional 401(k)s and IRAs and require special attention:
- Highly compensated employee (nonqualified) plans
- State and local government retirement plans
- Federal government retirement plans
- Traditional or defined benefit plans
I can create QDROs (qualified domestic relations orders) that underscore your pension fund rights. At all times, my goal is to divide pension benefits in the fairest way possible. At all times, I am mindful of the tax implications for you in this division.
Board-certified for your protection
The Texas Board of Legal Specialization tests and qualifies lawyers who meet exacting requirements in many practice areas. In family law, I am on the short list of board-certified attorneys — your assurance of professionalism, good ethics and proficiency in Texas family law.
Discuss Your Pension Division Concerns with Me
Is a pension part of your property division agreement in your divorce? Talk to me, Wayne Ward, firsthand to learn more about your situation and the best way to approach it.
To schedule a consultation, call me at 817-789-4436 or simply write to me using this easy email form. We will discuss the division of your pension and any other complicated property concerns you may have arising out of your impending divorce.
Se habla español. Spanish-language service is available.