Interview about with Attorney Bryan E. Daum. Discussion about Pensions, including: What are the different type of pensions? How are they divided? What are the legal requirements to divide? What is a QDRO? What is vesting?…(read more)

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Divorce TV has been an increasingly popular topic in recent years, as more and more couples are opting to go their separate ways. One of the most important aspects of divorce that often goes overlooked is the division of pensions. In this article, we will explore the importance of understanding how pensions are divided in the event of a divorce.

Pensions are considered to be marital assets in many jurisdictions, which means that they are subject to division during a divorce. This is because pensions are earned during the marriage and are therefore considered to be joint property. It is important for both parties to have a clear understanding of the pension assets that are at stake during a divorce, as this can have a significant impact on their financial futures.

There are several different ways that pensions can be divided during a divorce. One common method is known as a pension sharing order, which involves dividing the pension funds between the two parties. This can be done in various ways, such as splitting the funds equally or giving one party a larger share based on their contributions to the marriage.

Another option is known as pension offsetting, where one party takes a larger share of other assets in exchange for giving up their claim to a portion of the pension funds. This can be a useful option for couples who prefer to keep their pension funds intact but still want to ensure that assets are divided fairly.

It is important for both parties to seek professional advice when it comes to dividing pensions during a divorce. Pensions can be complex financial assets, with different rules and regulations depending on the jurisdiction. Seeking the guidance of a financial planner or divorce lawyer can help ensure that both parties fully understand their rights and obligations when it comes to dividing pension assets.

In the next part of this series, we will explore some common pitfalls to avoid when dividing pensions during a divorce, as well as some tips for ensuring a fair and equitable division of assets. Divorce TV aims to provide valuable information and resources to help couples navigate the complexities of divorce and ensure that their financial futures are protected. Stay tuned for more insights on the topic of divorce and pensions.