New York Divorce Law With Pension
Description
How to fill out New York Divorce Worksheet And Law Summary For Contested Or Uncontested Case Of Over 25 Pages - Ideal Client Interview Form?
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FAQ
The most common equitable distribution formula for a public pension was established by the State Court of Appeals in Majauskas v. Majauskas. This formula provides an ex-spouse with one-half of the part of a member's pension that was earned during the marriage.
A fair division may be to give the ex-spouse half of your pension (or half of the two-thirds considered marital property). An equitable division of marital property looks at all of the couple's assets and debts. There may be other assets of similar value to give up to retain your pension.
The New York State Court of Appeals has determined that retirement benefits are marital property and can be divided between you and your ex-spouse when the marriage ends.
In California, all types of retirement benefits are considered community property, which allows CalPERS benefits to be divided upon a dissolution of marriage or registered domestic partnership or legal separation.