Legal Question in Family Law in Illinois
Is my pension or annuity at risk in a Divorce?
I've been Married over 12 years, during our marraige I got a job which includes a pension and a annuity. Am I at risk of having to pay this after my retirement (in 10 years) as alimony? what issues are brought up regarding alimony that can be negotiated in the divorce litigation process in a parties favor?
1 Answer from Attorneys
Re: Is my pension or annuity at risk in a Divorce?
All income or assets acquired during the marriage are considered marital property. Annuities and pensions are considered part of the marital estate if earned during the marriage. These can be divided at the time of divorce.
There is no set way to determine who gets what in a divorce. You try to divide the marital pie in an equitable way. You try to see what the earning capacity of the parties looks like before trying to separate the assets. In your case I do not have enough information to tell you what to expect. I can tell you that whatever happens the annuity and pension dollars are not worth as much as things that can be used and spent today.
I can give you a free consultation regarding this case. Please call me at 773 772-8989.
Michael A. Perez
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