Retirement savings accrued during a marriage are assets like any other and are subject to division in a divorce proceeding. If your husband owned the assets before marriage, they may be considered pre-marital assets and you may not be eligible for division. However, there are some instances where assets accrued before marriage can be converted into what may be considered marital assets. Additionally, the Oregon court’s have the ability to ultimately divide the parties marital and separate assets in an equitable fashion. It’s important to review these issues with your attorney or you could be missing out on funds that you are eligible for. A divorce attorney can help you understand more about divorce and splitting assets.
Am I Entitled to Part of My Spouse’s Retirement after Divorce?
Any wife undergoing a divorce may wonder, “am I entitled to any of my husband’s retirement account?” Retirement accounts, like any other assets which accrue during the marriage, are marital assets subject to division in a divorce proceeding. Just because your husband has a retirement account in his name alone does not mean it will be awarded solely to him. You will have an equitable interest in that account which can be awarded to you as part of the divorce proceeding. Retirement accounts of one or both spouses are often divided during the course of the dissolution through a court order.
Dividing Retirement Assets in a Divorce
It’s possible for a spouse to receive a portion of a retirement account in a divorce proceeding. Determining how to divide the funds is not a simple task, as many factors must be closely considered in family court. The division of a retirement account due to divorce is not considered a taxable event; however, dividing accounts should be handled with care and by a knowledgeable family law attorney also skilled in pension and retirement account divisions.