I have pension and 403B. My soon to be ex has 401K. The value of 403B and 401K are even. Is he entitled to my pension too?

Asked over 1 year ago - Detroit, MI

My soon to be ex makes 25K more than me a year and is telling me I owe him half of underwater house to get out and part of my pension. Just does not seem fair to me.

Attorney answers (2)

  1. Warren J. Widmayer

    Pro

    Contributor Level 3

    1

    Lawyer agrees

    Answered . This is really a divorce/family law question - the rights you each end up with regarding each other's retirement accounts will be decided through your divorce, where it is a matter of what is considered fair under the divorce laws. Basically, everything is up for grabs and if you can't work it out in a property settlement, it will be up to the divorce court to decide. Discuss this with your divorce lawyer.

    This answer is not intended as legal advice or to create an attorney-client relationship between you and me. This... more
  2. J. Matthew Catchick Jr.

    Pro

    Contributor Level 16

    Answered . The general rule in Michigan is that each Party is entitled to one-half (50%) of the other Party's retirement benefits that accrued during the course of the marriage -- that includes BOTH your defined benefit plan (your Pension) and your defined contribution plan (your 403(b) Plan). The issue of how to handle a house that is "under water" is extremely complex -- IMHO that type of "debt" should be treated differently than a "regular" debt like a mortgage or credit card debt. I would kindly but strongly recommend you consult with a local Family Law lawyer like myself to assist you, and to present all your defense to his claim concerning the under water house. I wish you all the best of luck. Warmest regards, Matt Catchick.

Related Topics

Divorce

Divorce is the process of formally ending a marriage. Divorces may be jointly agreed upon, resolved by negotiation, or decided in court.

Dividing a 401(k) in a Divorce

A 401(k) retirement savings account, like other assets owned by a married couple, may be included in a division of property during divorce.

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