Vacanti | Shattuck | Finocchiaro Attorneys

Are Pension And Retirement Programs Divided The Same As Other Property In A Nebraska Divorce?

Retirement assets which could include 401(k)s, IRAs, and pensions are divided in the same manner as all assets in Nebraska, which means that anything that was accumulated during a marriage would be divided equally. For example, if someone’s spouse had a pension for 10 years at the time of marriage and over the course of the marriage that spouse contributed to the pension for 10 years, then the portion that was accumulated during the marriage would be divided equally between the spouses upon divorce. This means that the non-accumulating spouse would get 25 percent of the pension, or half of what was accumulated during the marriage.

How Do Nebraska Courts Handle The Division Of Debt In A Divorce Case?

In Nebraska, debt is divided in the same manner as assets. If a party has debt prior to the marriage and that debt still exists at the time of the divorce, then the debt would be considered non-marital or pre-marital debt, which means that the other spouse would not be required to contribute to that debt. If debt was accumulated during the marriage, then it would generally be divided 50/50.

My Wife Accrued A Lot Of Credit Card Debt Without My Knowledge During Our Marriage. Am I Responsible For That Debt After A Divorce?

Debt that was accumulated during a marriage—even if the other party was not aware of that debt—will generally be divided equally. One exception to this is if the party was accumulating debt for a boyfriend or girlfriend. Under such circumstances, that debt would be paid by the person who accumulated it for their boyfriend or girlfriend. Another circumstance in which a spouse might not be responsible for debt is if their spouse had a gambling issue. In most cases, however, debt accumulated during the course of a marriage would be divided equally between the spouses.

Can I Review My Spouse’s Debt Or Credit Card Statements Before I Am Required To Pay It?

If debt was accumulated by someone’s soon-to-be former spouse, then they would absolutely be entitled to review the credit card statements and loan documents to determine the purpose of the debt. This information would be accumulated through the discovery process where we would ask opposing counsel or the party opponent to produce credit card statements, bank statements, loan documents, and anything else which might demonstrate the purpose of the debt. This means that an individual would never be required to pay a debt without knowing the purpose of that debt.

What Are The Dangers Of Not Having An Experienced Family Law Attorney When Dealing With Division Of Assets And Debts In A Nebraska Divorce?

The divorce process, the division of assets, and the characterization of marital versus non-marital debts and assets have so many nuances, and there are always exceptions to rules. Unless someone is an experienced family law lawyer who deals with family law cases on a regular basis, they are not going to be aware of all of the nuances. It’s always recommended that a person obtain a good lawyer who handles domestic law, family law, and divorce cases. There are a lot of people who think they know what they are doing, but experience is the only thing that can ensure a fair outcome in these matters. We’ve done this for a long time; we know our way around the courtroom and we know how to negotiate settlement agreements. Ultimately, it is to everyone’s advantage to get an experienced lawyer who knows what they are doing.

For more information on Division Of Pension & Retirement Programs, an initial consultation is your next best step. Get the information and legal answers you are seeking by calling (402) 235-6070 today.

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