Depending on the facts and circumstances of your case, the following forms (all available through divorcetoday.com) may be required:
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As a general rule, any value accumulated in a retirement account or plan during the parties’ marriage is considered community property. As an example, if the parties are married for 15 years and the retirement has been amassed over 20 years, 75% of the retirement account would be community property. The non participating spouse would be entitled to 37.5% of the value of the pension as of the time of divorce.
The two primary types of pensions are defined contribution and defined benefit plans. Under a defined benefit plan, the pension is defined by a formula and usually payable as a monthly annuity until the participant’s death. In a defined contribution plan, the individual’s pension is in the form of an individual account balance. A common type of defined contribution plan is a 401(k). Under such a plan, employees may defer compensation, and the employer makes a contribution to the plan on the employee’s behalf. These contributions are excluded from the employee’s gross income in the year they are made and are not subject to taxation until distributed to the employee, usually at normal retirement age. If the employee terminates before normal retirement age, he or she may take the distribution as early as the plan’s earliest retirement age. However, the distribution is subject to a 10 percent penalty, as well as taxes, if taken before age 55, unless the employee is disabled (as defined in Internal Revenue Code (IRC) §72(m)(7)).
Since 1999, DivorceToday.com has helped thousands of Americans obtain quick, easy, and inexpensive. For just a fraction of what lawyers charge, our trained paralegals prepare all of the forms needed to complete your divorce.
This do-it-yourself kit includes all of the forms required for an uncontested New Mexico divorce. You may either type or print your personal information. You have the option of choosing to receive the forms via email or regular mail, and in either Word or WordPerfect format. You will also receive easy-to-understand instructions and information. The forms include:
ALL OF OUR SERVICES ARE GUARANTEED. OUR TRAINED STAFF IS HERE TO ANSWER TO ANSWER YOUR QUESTIONS. WE GLADLY MAKE ANY CORRECTONS OR ADDITIONS TO YOUR FORMS AT NOT ADDITIONAL COST TO YOU.
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