Divorcing parties with a Nevada PERS pension benefit should carefully look at their rights and the best way to divide the pension. Often, this is an afterthought as the parties simply agree to divide the asset “equally”. There is very specific case law in place that governs what takes place relative to the “survivor benefit.” I urge my clients to be aware of their pension and for the spouse that is not the named plan member, to be aware of the survivor benefit. Good information is available from NV PERS. A Qualified Domestic Relations Order (called a “QDRO”) will need to be drafted to address the exact requirements of the pension plan administrator and all the little terms that govern exactly how the pension will be divided.
Dealing With A Joint Trust And The Assets Held After A Divorce?
After a divorce, the handling of property held in joint trust initially created by a married couple, can vary depending on the specific details of the trust and the divorce settlement or decree.