Legal Question in Family Law in Texas

Am I entitled to part of pension settlement during divorce
My husband and I have been married for almost 8 years but mostly separated for the past 4 years. Since the beginning I have kept our finances separate because I had bad credit when we first married, but have worked very hard to restore it now. We have never had a shared bank account, credit card etc. He has a home and I have home, each in our own name and no liability of one spouse for the other's mortgage. My husbands company is giving its employees a lump sum settlement for the co. pension plan in June and will no longer make contributions to the pension fund after that time. ($300K for my husband) Am I entitled to any % of that given that our finances have always been separate? He makes about $40K a year more that I do, and I have only recently found a job that even offers a 401K plan. A small percentage, like 10% would go a long way in helping me save for retirement. I am 55 years old and I am very concerned that there may not be enough money when I retire. What are your thoughts. I would like to make it part of the divorce if you think it is ethical and the right thing to do. Thank you.

Asked on 4/12/06, 5:15 pm

2 Answers from Attorneys

TC Langford Langford Law Office

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Re: Am I entitled to part of pension settlement during divorce

Yes you are entitled to a portion of the proceeds. These cases require detailed accounting records, however, in general first determine the portion of the proceeds attributable to your 8 years of marriage. (although of course he will argue that it is only 4 years of marriage, and will have some validity to his argument). For instance, if he and the company contributed to the account for 16 years, then roughly half of the entire account is part of the community estate, and you will want to claim 50% of that percentage.

This is a very rough example of the math involved, but yes you have a valid claim to 50% of ALL of the community estate. This is a situation, where mediation would probably be very effective.

You really need to get an attorney to assist you in this matter.

Answered on 4/12/06, 5:52 pm

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