Different Ways to Divide Your Retirement Plan in Your Divorce

If you and your partner has come to an unlikely divorce, division of properties, assets, and other possessions might be something you have to talk about sooner rather than later. Likewise, your communal retirement plans fall under the category of properties that have to be divided between both parties in case of separation or divorce. In light of Texas Law, retirement plans act as an indirect compensation to the spouse, which he or she earned during the course of their marriage. However, it is a case-to-case basis, because there are instances where the retirement plan does not act as shared property. One example would be when a couple lives in a “common law state” for 10 years, then the benefits of the retirement plan would be classified as an individual and separate property of the employee spouse and would not have to be subjected to a “just and right” division under the Texas courts. Of course, there are a number of ways in which you and…

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