Retirement assets accumulated during a marriage are often considered marital property, subject to division during dissolution proceedings. These assets, designed to provide financial security in later life, can represent a significant portion of the couple’s overall wealth. For example, if one spouse accrued a substantial retirement fund through employment during the marriage, the other spouse may be entitled to a portion of it upon divorce.
Dividing these benefits equitably acknowledges the contributions of both parties to the marital unit, whether those contributions were financial, domestic, or supportive. This recognition helps ensure a more just financial outcome for both individuals. Historically, these assets were sometimes overlooked in divorce settlements, leading to potential long-term financial hardship for the non-earning or lower-earning spouse.
