Pension Rights in Divorce in Madison
Are your pension funds on the table in divorce?
Under state law, marital property is divided on the basis of an "equitable distribution," and your pension funds are often part of the property that is subject to division in a divorce. A valuation of all assets of both parties is one aspect of the discovery process in a divorce. Your pension could be one of your most valuable assets, along with the family home. The valuation of property can be undertaken quite easily, but determining the amount of an existing pension or IRA can be more complex. You may have begun saving prior to marriage, so some portion of your pension may not be eligible to be split.
Evaluating pension funds can be a complex matter, and it is vital that you have a Madison divorce lawyer with powerful connections and experience to take action to ensure you don't needlessly sacrifice what you have a right to keep or claim as marital property. Attorney John T. Fields has over 25 years of experience in divorce and family law, and has gained a reputation as a pit bull in a property division issues. He is prepared to assist you in this crucial matter, and you can be confident that everything possible will be done to correctly value pension funds in a divorce.
Protecting Your Financial Health in a Divorce in Madison
There are many ways "equitable distribution" of assets could be determined, and many make the error of settling the divorce in a manner that, in the end, will not be beneficial. For instance, agreeing to keep the family home in exchange for sacrificing pension funds in property division may not be the best way to resolve the split of assets. Income from a pension can be used for anything you need, including purchasing another property, while the home has ongoing costs that could prove to be unmanageable. A careful evaluation of the true facts about your marital property is a crucial aspect of your divorce.
It is imperative that these issues are completely evaluated so that your decisions about property division are fair to you, and that you don't face financial troubles in the future. We carefully evaluate all of these matters, and discuss them with you fully so that your decisions about your share of pension funds most benefit you in the long run. The facts regarding taxes and pension funds are also an important matter, and how to structure a settlement so you are not subject to undue taxation can be a critical issue. We have the experience, scope of knowledge and insight you need to ensure your right to your share is protected in divorce. Call today.