Assets can take many forms. There is almost no asset that cannot also be a marital asset.
Many people are under the false impression that their retirement accounts, funds, pensions and benefits are solely and exclusively their own. Not necessarily.
Pension benefits and retirement accounts (401(k), IRA, etc.) and universal or whole life insurance policies acquired during the marriage are a marital asset. Even when a retirement plan and/or account was opened before marriage, contributions made to the plan and/or account made out of marital funds during the marriage are also a marital asset.
Retirement funds are often very important to divorcing couples, especially those who divorce later in life. Retirement funds often constitute a major part of one’s net worth. Retirement funds are often what one relies upon for his/her support later in life. Retirement funds are often a very contentious issue in divorce. Generally speaking, however, those retirement funds acquired and accrued during the marriage are divided equally in divorce.