FINANCIAL ISSUES - MARITAL PROPERTY V. SEPARATE PROPERTY
I believe a divorce is imminent. I live in New Jersey. I have worked very hard since the day I am married. I earn a salary that varies from year to year. I earn from 25% less to 25% more than him. I don't think it's fair that now that I'm 56 and ready to retire and have a job that's not a sure thing, I will probably get nothing. I worked until the day I had my first baby to pay for his flight lessons. Does this make a difference. He will retire in five years with a great pension. I have a 40lK worth about a third of what his is.Answer:
Ay assets acquired during the course of the marriage by either party is considered marital assets regardless of in whose name the assets are held, unless the assets are from an inheritance and kept separate from the joint assets.Back to content
Therefore, any portion of the 401K accounts or other pension accounts which are the result of funds earned during the married will be considered marital asserts and divided equally. If you contributed to your husband's professional license by supporting him during your marriage, the judge will take that into consideration in determining how much of the marital assets you shall receive.
Any license or degree either of you have which was acquired during the course of the marriage is also marital property and a value to each will be assigned and then divided.
If you are located in the New York City metropolitan area, please is me a call at 212-370-1660 and let us discuss the matter in greater length .
Leonard M. Weiner, Esq./Divorce Solutions