Rights to Husband's Pension after Divorce

Full question:

If my husband and I get divorced, do I have a right to his pension? Can half of his pension be drawn out as a settlement? We have been married 23 years. My Husband has two pensions plans, one from a position he held for 16 years and his current position which he has held for the last 7 years.

  • Category: Divorce
  • Date:
  • State: Ohio

Answer:

In making a division of marital property, the court shall consider all of the following factors:

1. The duration of the marriage

2. The assets and liabilities of the spouses

3. The desirability of awarding the family home, or the right to reside in the family home for reasonable periods of time, to the spouse with custody of the children of the marriage

4. The liquidity of the property to be distributed

5. The economic desirability of retaining intact an asset or an interest in an asset

6. The tax consequences of the property division upon the respective awards to be made to each spouse

7. The costs of sale, if it is necessary that an asset be sold to effectuate an equitable distribution of property

8. Any division or disbursement of property made in a separation agreement that was voluntarily entered into by the spouses

9. Any other factor that the court expressly finds to be relevant and equitable. § 3105.171

If you would like us to forward your request to an Attorney Network we work with for further assistance please let me know and I will do that for you.

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

Yes, you can lose part of your retirement benefits in a divorce. Retirement accounts accrued during the marriage are typically considered marital property. The court may divide these assets between you and your spouse based on various factors, including the length of the marriage and each party's financial situation. It's important to consult with a legal professional to understand how your specific retirement benefits may be affected.