The law’s really clear that retirement accounts, pension plans, and other things employment related that are accumulated during marriage are marital property. It doesn’t really matter whose name the retirement benefit is held in. If it was accumulated during the marriage, it’s going to be divided by the court as marital property. If you have a more traditional situation where perhaps in this case a wife worked and the husband stayed at home or the husband worked and the wife stayed at home, it doesn’t matter that the pension plan is in the name of one party or the other. The court is going to divide it.
Chuck Roberts is a family lawyer at Momkus McCluskey Roberts, LLC, one of the largest law firms in DuPage County, Illinois.