My pension


#1

Good morning,
The accountant does not know the answer he told me to ask a lawyer. What is the law in this area?
Can a future tax factor on pensions and commercial real estate properties be included in a divorce settlement? If my husband gets half my pension when I retire can I deduct a % from the pension at today’s value. This would lower the value of what would be split. I have asked several accountants and they all say ask the lawyer. Who can I turn to ???
Thanks,
Wendy


#2

Future tax consequences are considered in Equitable Distribution, if brought to the Court’s attention at trial. In the case of a pension, these assets are divided by a unique type of court order which allows an account to be divided without being taxes as a present day withdrawal.


#3

So now that you are telling me my pension cannot be taxed at a present day withdrawal in court. Can a future tax factor be included in the divorce settlement on commercial real estate property that my husband and I own together? He will be keeping the properties; my name will be coming off the title and deed. And he is deducting $28,000.00 which he calls deferred tax liability from a like kind of exchange. If I cannot factor a deduction on my pension how can he factor a deduction on the properties if he is not selling them today?
Thanks,
Wendy


#4

Future tax consequences are considered by the court in dividing property.
If possible the court will divide the pension in such a way that neither party suffers a loss with a present tax.