Are annuities exempt from division of property laws in a divorce?

Asked on November 5, 2011 under Family Law, South Carolina

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

Generally speaking, an annuity - as I understand it - is a tax deferred retirement plan, correct?  Is that what you understand your annuity to be?  Well then if it is a retirement plan and it has been funded during the marriage with marital assets (wages earned during a marriage are marital assets) then it is subject to distribution as a marital asset in a divorce.  There are other forms of annuities, ones funded from non-marital assets (in certain states not others) such as a settlement in a personal injury law suit, etc.  But the applicability to your situation is best deterined by an attorney in your area.  Good luck to you. 


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