Wednesday, August 12, 2009
Division of Pension Plans in Washington Divorce
Pension and other retirement benefits are generally considered property subject to distribution by the Court in a dissolution action, whether or not the benefits are vested. The law considers these benefits to represent deferred compensation. This means they were accrued during the marriage and belong to the marital community, rather than being earned after divorce (at retirement) and belonging to the spouse whose employment generated them.
There are many types retirement benefits to consider in a property division, including IRA's, pension plans, 401K's, government plans, union plans, stock options, sick leave, vacation time and deferred compensations.
A family law attorney can advise you on how retirement benefits can fit into a fair division of assets, help in getting them valued, and determine the best way to divide them.
The Renton law firm of Mogren, Glessner & Roti, represents clients in a variety of family law cases, including the division of assets in a divorce. We have 4 attorneys for you to chose from. Please visit our web page at http://www.mgrlaw.com/ for more information.