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Consider a pension when you're getting divorced, not later

If you're like a lot of workers, you think about your pension plan twice: When you get the job and they explain the plan to you, and when you retire. In between, you don't pay much attention to it and just let it go on its own.

However, if you're getting divorced, it's important not to ignore it or forget about it, thinking it only matters at the time of retirement. In Florida, a pension is a marital asset. That means your spouse may be able to ask for 50 percent of your pension and then be paid that money when you finally get done working.

Remember, this is true even if you're not anywhere near the end of your career. Maybe you're just in your early 30s, you've had a short marriage, and retirement isn't even on the horizon. Your spouse can still ask for a portion of that pension -- it may not always be the exact 50 percent -- in the future. You could go on with your life for decades before you retire and then find out you need to send a portion of the money to your ex.

If you're on the other side of the equation -- you're asking for a portion of your spouse's pension plan -- be sure you don't put it off. You need to address it during the court proceedings, regardless of your age. Don't assume you can show back up after he or she retires and claim it at that point.

As you can see, asset division isn't always that simple when looking at future assets, but it can be direly important for your future. Always make sure you consider all of your assets as you split up.

Source: Wiser Women, "Pensions And Divorce," accessed Nov. 09, 2016

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