Divorce Magazine

Since 1996 Divorce Magazine has been the Internet's leading website on divorce and separation. We provide advice about divorce law, divorce lawyers, family law, custody, support and other divorce related issues along with a directory of divorce professionals.

 

Pensions and Retirement

Will the new pension laws in Illinois influence my divorce?

Tina Abramovitch, a family lawyer in Chicago, answers: In December 2013, Illinois lawmakers approved legislation designed to remedy the underfunded pension system that has contributed to the State of Illinois’ debt problem. This new legislation is to take effect in June 2014, but pending lawsuits may delay the commencement. Multiple groups have filed class action […]

What do I need to know about Ontario pension valuations?

Gord Krofchick, a forensic accountant, fraud investigator, and business valuator in Toronto, answers: Legislation passed by the Ontario legislature in January 2012 has resulted in a dramatic change in the way pension assets are valued and divided between divorcing couples in Ontario. The new rules – formally known as Bill 133 – only apply to […]

What is a QDRO (Qualified Domestic Relations Order)?

Your mediator or your attorney has told you that a QDRO comes next, and it can be a long process. As QDRO preparation experts, we frequently receive calls from divorcing parties asking us to explain what a QDRO is, what happens if they do not have a QDRO prepared and why the QDRO process would possibly take 6 to 8 months, or even longer. Here are some answers for these QDRO questions.

Will my spouse be entitled to some of my pension after our divorce?

“Will my spouse be entitled to some of my pension after our divorce? If so, can I prevent this?” To begin answering these questions, one must first define terms. Retirement plans can be broken into two different categories: Defined Contribution Plans and Defined Benefit Plans. Defined Contribution Plans, such as a 401(K), are defined by […]

WATCH: Is my pension subject to property division?

A pension plan is a marital asset, subject to sharing as part of the marital property in divorce law. A capitalized valuation of the pension must be done; this usually requires the assistance of a pension valuator. The figure the valuator arrives at is placed into the calculation of the assets, debts, and liabilities of […]

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