It goes without saying that there are many difficult issues to confront in the process of dissolving a marriage. A divorce can become especially messy if the marriage was long and if children are involved. Specifically, one major issue in divorce is the division of marital property. With the legal breakup comes the task of figuring out how pensions, real property and other assets will be divided.
With that in mind, readers in Michigan may be interested in a South Dakota woman’s plight. She is divorcing her imprisoned husband and seeks half of his pension and retirement funds. The husband is in jail for stealing $5.6 million from 3M Corp. over a 15-year period. The wife was not aware of his illegal activity, and she says she is entitled to her soon-to-be ex-husband’s pension and retirement funds, which the government may use as restitution for the husband’s crimes.
Michigan has laws that govern the division of property in divorce cases. Depending on the circumstances of the divorce, dividing pension and retirement benefits can be tricky. When dealing with this particular type of asset division, it is best to seek out legal assistance in order to achieve a fair settlement. Sometimes spouses are dishonest with each other, and it is best to have another set of eyes at the negotiating table.
Dissolving a marriage can be an especially trying process to navigate when considerable assets are involved. It’s easy for the divorcing parties to get lost in the complexities while trying to figure out who is entitled to what assets, and that is when a fluency in divorce law is indispensible to an equitable outcome.
Source: San Francisco Chronicle, “Wife fights for half of convict-husband’s pension,” Aug. 7, 2012