Dividing Annuities In A Divorce

child supportQuestion:

Before my wife and I were married she was in an accident and has received annuity payments for the last 15 years. Am I entitled to half of those payments now that we are divorcing?

Answer:

While I am not licensed in your state, I am licensed in Pennsylvania and New Jersey and can give you some general tips on how this issue would be dealt with here.

Given the laws are so different state to state, I strongly encourage you to consult with a divorce attorney in your state regarding this issue.

Philadelphia Divorce Attorney Maura Boogay
Philadelphia Divorce Attorney Maura Boogay

Here, in Pennsylvania, the determination as to whether something is marital is based upon the date on which the right to receive the item in question occurred. If the right to receive the property was incurred during the marriage, it is marital.

Here, this sounds pre-marital but it sounds as if it would be deemed income for purposes of determining a support obligation to the wage dependent spouse, whichever of you happens to be the wage dependent spouse.

Do consult with an attorney to learn whether this would be considered a marital asset for division in a divorce or support for determination of a support obligation.

To arrange an initial consultation to discuss divorce rights for men with a Cordell & Cordell attorney, including Pennsylvania divorce lawyer Maura Boogay, contact Cordell & Cordell.

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