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How Retirement Impacts a Divorce

In Separation & Divorce by Elizabeth Stephenson

Retiring comfortably is the dream for many American couples. We work hard, try to send the kids to college, and make long-term investment decisions so that one day we can stop working and enjoy ourselves. Even if just one spouse was employed, the law views retirement benefits earned during a marriage as marital property. This is because the spouse who made a career sacrifice to manage the home and raise the children allowed the other spouse the opportunity to earn money for retirement. Valuing and equitably dividing retirement benefits are an incredibly important aspect of the divorce process. This is because retirement benefits generally constitute one of the most valuable assets that make up the marital estate. If you think about your parents or friends who have retired, many primarily …

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Are Unvested Pension Benefits Subject to Division?

In Separation & Divorce by Sarah Hink

In North Carolina, marital property is all property acquired during the course of the marriage, which is subject to an equitable division when a couple gets divorced. Separate property is everything that a spouse acquired prior to the marriage, or individually inherited or received as a gift during the marriage. Separate property is not subject to division during a divorce. Family law attorneys often receive questions regarding pension benefits, and how they are classified for purposes of a divorce. A Pension is a Marital Asset In North Carolina, a pension plan is classified as marital property, regardless of whether it has vested at the time of the separation. The reason for this is that the spouse with the pension made the pension contributions during the course of the marriage. An …