Legal Question in Family Law in New York
marital assets
I am in the process of divorcing my husband of 2 1/2 years. Am I entitled to any of his earnings on his 401K and pension during the time of our marraige? We have not lived together since Dec 2007
2 Answers from Attorneys
Re: marital assets
Ordinarily, yes, you would be entitled to a portion of any asset or benefit that accrued during the marriage, including 401ks and pension. The period of marriage is defined as from the date of marriage to the date on which the first court papers were filed to terminate the marriage.
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Re: marital assets
Yes.
NY uses the "Majauskas" formula to calculate the amount.
A distributive ratio is established by dividing the duration of Plan participation by the duration of the marriage.
Both terms end as of the date of the commencement of the divorce action. The non-participating party�s share is (usually) 50% of the resultant fraction of the fund.
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