Pension in pay status as income vs. asset

[Joe Daniels]

What is the name of your state (only U.S. law)? NJ

I am getting a divorce and I am receiving a monthly pension check. I need that check to pay my household expenses. How can I get the Court to treat that monthly pension check as income versus an asset to be distributed?

[tuffbrk]

I feel as if you are asking a trick question. Your attorney is advising you that your pension, which you are already receiving, is going to be treated as part of your equitable distribution?

Umm...are you retired? Is it your sole source of income?

[LdiJ]

Originally Posted by Joe Daniels

What is the name of your state (only U.S. law)? NJ

I am getting a divorce and I am receiving a monthly pension check. I need that check to pay my household expenses. How can I get the Court to treat that monthly pension check as income versus an asset to be distributed?

Retirement monies are marital property. However, if you are already retired, is your spouse already retired? How much in retirement assets does your spouse have compared to yours?

[nextwife]

Originally Posted by LdiJ

Retirement monies are marital property. However, if you are already retired, is your spouse already retired? How much in retirement assets does your spouse have compared to yours?

Retirement monies are SOMETIMES marital property- but only if accrued DURING the marriage.

So the big question is WHEN the pension was earned?

You and he are each entitled to share the maritally accrued retirement, savings and debt.