Retirement plans are part of the community estate if contributions were made during the marriage. The retirement plan will be divided by a judgment either after a trial or after the parties agree to a division. There are several types of retirement plans. One type of retirement plan is a pension plan. Pension plans are part of a compensation package for employees of that company. The distributions are triggered upon the actual retirement of the spouse who worked for the company. A problem may arise, however, when the employee spouse that works for the company does not enter into retirement but continues to work. The pension plan will not distribute any of its assets. In that situation, the spouse who did not work for the company will not receive any distributions.
In California, a family court can order that in lieu of distributions, the working spouse can pay the non-working spouse the equivalent of the distributions until actual distributions begin. This can be obtained by a court order.
If you need a divorce attorney in the Orange County area to discuss a family law matter such as the division of a pension plan or any other dissolution issue such as child support, custody, spousal support and property division, contact Treviño Law, Inc. Conveniently located off of the 5 and 405 freeway at Lake Forest.
Although the posting of this information can be considered free legal advice for an Orange County divorce, it does not guarantee a result. There may be other circumstances that play a significant role in any dissolution which may alter the outcome of a divorce. A divorce lawyer will be knowledgeable about the significance of facts. Those factors should be reviewed and argued by a family law attorney in Orange County.
Please note that this legal advice does not establish a family law attorney-client relationship.
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