We Work Closely With Pension Valuators To Understand The Fair Share Of Retirement Benefits
Pensions are less common these days but many people in government, teaching and civil service jobs still receive them. While your pension may seem to you like something with little to no value now, it is a part of your marital estate and subject to division in a divorce.
At The Prince Law Group, our attorneys help you understand and evaluate all of your assets. Some of them may be clear, such as the balance on a bank account, while others may be more complicated, such as a silent pension. Making sure that you get your fair share in the division of marital property is part of that process.
We have helped understand and evaluate pensions for beneficiaries and their spouses in many professions including:
- IBM, GE and other major corporations
- City, town and state workers in Connecticut
- Postal workers
- Emergency medical services employees
How Much Of The Pension Will I Get?
You may not realize it, but a pension may be one of the most valuable assets you have in your marriage. It may not seem like a lot now, but it grows over time and can be worth quite a bit once it matures.
Our lawyers work closely with pension valuators to determine the current value of your (or your spouse’s) pension as well as the coverture share, or earned amount during the marriage. This portion of the pension is often divided between both parties.
Depending on your situation, a pension may be used as a negotiating point in mediation or collaborative divorce. This form of retirement may be used to trade off another asset or retirement asset as part of the divorce agreement.
Some pensions are divisible before maturation while others will be divided when the person retires. Here at the Prince Law Group we assist you in determining the difference and put a plan into place to secure any division.