Saturday, November 29, 2008

Divorce and Retirement - What to do?

Today, I can give one quick recommendation and that is read Dick Price's Retirement Planning During a Divorce. A bit too long for easy summary other than to say if you are planning a divorce or in a divorce and you have a pension, then you need to read it.

I would add only one thing and that is because of our current financial crisis in this country - get as much information as possible about the funding of the pension. With talk of GM going into bankruptcy, this has come to mind. Early last year I was co-counsel in a case where a man retired from Delphi and it was argued by co-counsel that GM might go under. The judge and opposing counsel, both older than co-counsel or myself, scoffed at the suggestion. We know better today. Consider the viability of whatever company funded the pension.

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