Legal Question in Family Law in Maryland

is an annuity purchased during marriage maritial property even is some of the money to purchase came from a cash out pension lump sum check

Asked on 2/04/12, 5:39 pm

1 Answer from Attorneys

Robert Sher Wagshal and Sher
0 users found helpful
0 attorneys agreed

It depends on the status of the pension check. If this pension was in existence prior to the marriage, then you would have to prorate the lump sum depending on what the value of the pension was at the time of the marriage vs. its comparable value at the time of the cash out. The part that represents the (presumed) growth during the marriage would be considered marital, so if no other funds were used to purchase the annuity, then the same portion of the annuity would be treated as marital property.

Read more
Answered on 2/05/12, 12:16 pm

Related Questions & Answers

More Family Law, Divorce, Child Custody and Adoption questions and answers in Maryland

Looking for something else?

Get Free Legal Advice

88953 active attorneys ready to answer your legal questions today.

Family Law, Divorce, Child Custody and Adoption Legal Forms

Browse and download our attorney-prepared and up-to-date legal forms from $4.99

Find a Legal Form

Featured Attorneys

Anthony SmithLawSmithLee's Summit, MO
Rahul Manchanda, Esq.Manchanda Law Office PLLCNew York, NY
Timothy McCormickLibris Solutions - Dispute Resolution ServicesSan Francisco, CA
Find An Attorney

Are you an Attorney?

Earn additional revenue and grow your business. Join LawGuru Now