Full question:
My wife left her job in CA after 12 years of service with UCLA (8 married to me). She is eligible for a pension at age 50 or 55 from UCLA for that 12 years. Is that pension considered joint property and if so, is my portion 50% x 8/12??
- Category: Divorce
- Subcategory: Property Settlements
- Date:
- State: Florida
Answer:
In California, which is a community property state, most property acquired during the marriage is considered joint property. This includes pensions and retirement benefits. Since your wife earned her pension during your marriage, it is likely to be classified as a marital asset.
In your situation, the pension accrued during the eight years of marriage is subject to division. The formula you suggested, 50% x (8/12), is a way to calculate your share of the pension based on the time you were married compared to the total time she worked at UCLA. This means you would be entitled to one-third (or approximately 33.33%) of the pension benefits accrued during your marriage.
However, the actual division can depend on various factors, including any agreements you may have and the specifics of your divorce proceedings. It’s advisable to consult with a family law attorney to get guidance tailored to your situation.
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.