How Are Profit-Sharing Plans Divided In Divorce?

alimonyQuestion:

My divorce agreement specifies that I pay a percentage of any profit sharing that I get from my work each year. My ex-wife feels I should pay her the percentage of pre-taxed profit sharing payout. I think I should pay her the percentage after the taxed payout.

Who is right?

Answer:

While I am not licensed to practice law in your state and cannot give you legal advice, I can give some general observations on this issue based on the jurisdiction where I practice.

Check the decree and see if it addresses the issue. If the decree is silent on the issue, then you can pay her in the manner most advantageous to you. She can either accept this payment or bear the cost of pursuing the action further.

Omaha divorce attorney Nancy Shannon
Omaha divorce attorney Nancy Shannon

The decree will eventually be up to a judge to interpret, if she pushes the issue back to the courtroom. An attorney licensed in your state, who practices in the county the decree was issues in, should have a good guess as to how s/he would expect the judge to rule on the issue.

Family law is based on statutes that are state specific. I am licensed to practice in Nebraska and am not able to give specific and detailed legal advice regarding your situation. You need to contact an attorney licensed in your state who specializes in domestic litigation.

To arrange an initial consultation to discuss divorce rights for men with a Cordell & Cordell attorney, including Nebraska divorce lawyer Nancy Shannon, contact Cordell & Cordell.

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