Retirement Account Division In Ohio Divorce Court
Will I Keep My Retirement Account Savings And Benefits If I Divorce My Spouse?
Going through a divorce can be complicated and stressful. Common sense thinking oftentimes does not mesh with Ohio divorce laws. Division of retirement accounts may fall into that category.
Some people mistakenly think that retirement savings are separate property in a divorce. If they are the owner of an employer-sponsored pension plan or in investment accounts like 401(k)s, they may believe that since they earned the benefit that they get to keep it even in a divorce. That is likely WRONG. If any was earned during the marriage, that portion is “marital property” and subject to the Court’s equitable division just like a joint bank account. In other words, just because you earned the retirement benefit, you do not get to keep it in a divorce . Any amounts accrued during your marriage will belong to both spouses.… View Full Article → “How Ohio Divorce Courts Handle Retirement Account Division”