Many people spend years building up their retirement plans and pensions. After years or decades of hard work, many worry about the fate of their pension post-divorce. The big question most people start with is: does my ex get half of my pension after the divorce?
Today, we’re answering this question as well as going over a few tips that can help you protect your pension and other assets amid your CA divorce.
Pensions and Retirement are Subject to Division in CA
As we’ve noted, California is a community property state. This means that yes, your pension and retirement accounts are subject to division during the divorce process. This also includes assets such as savings accounts, retirement savings, investments, business assets, real estate, family heirlooms, and more.
Vested and Non-vested Pensions
When it comes to pension benefits, there are notable differences between how vested and non-vested pensions are split. Vested pensions, which survive even after the employee has left the company, are considered community property. Non-vested pensions generally do not get split evenly, but could be further distributed depending on the overall split of all assets and debts.
Protecting Your Pension and Other Assets in CA
While pension benefits are generally subject to an even split, there are some ways you can control how assets are distributed. One such route involves reaching a settlement with the ex out of court. In CA, couples have the option to settle any potential disputes before having to take it to the family law courts, and asset division is no exception.
Here’s where an attorney can act as a key mediator between the parties or help you find compromises that can enable you to reach a settlement with the ex. At the Law Offices of James P. White, we take pride in the creative and efficient solutions that we implement for our clients based on their family law needs in CA.
To learn more about how we can help you with your specific family naw needs, know that you can reach us at (858) 295-1104. We offer initial consultations, so don’t delay in reaching out at your earliest convenience