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Thelawman2, Attorney
Category: Family Law
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Experience:  Attorney-at-Law
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What are the pros and cons of waiving your spouses

Customer Question

What are the pros and cons of waiving your spouses retirement/pension/401k in the divorce, and is it considered a marital asset/property that must be listed in the agreement regardless?
Submitted: 1 year ago.
Category: Family Law
Expert:  Thelawman2 replied 1 year ago.

Hello, my name is ***** ***** I will be helping you today.

A spouse's retirement accounts are considered marital property and therefore will be allocated during a divorce. If you do not consider your spouse's retirement accounts as part of marital property, you would be waiving the right to have other assets offset against it. For instance, if you have a bank account worth a certain amount of money, that can be offset against your spouse's retirement account.