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Author Topic: Post Divorce Retirement Funds Question  (Read 1423 times)
mari
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Posts: 1


« on: November 14, 2007, 11:20:14 PM »

Hi,

I tried to register but it wouldn't allow me so I am hoping this posts. *Edited after posting* Membership did go through  Smiley .... Also my question would be pertaining to matters in Florida.

My question is as follows:

I was married in Jan. 1992, X started academy and career in Sept. 1992 and we were divorced Nov. 2005. 13 years give or take a few months (lived together for a year prior to marriage) and throughout approx. 85% of the marriage I was a stay at home mom raising our 2 kids and his child from a previous marriage. I was also instrumental in helping him achieve a second career throughout the marriage to which he no longer participates in.

During our negotiation for divorce settlement the issue of his pension funds came up and he asked me not to go after it because that was his retirement. He had an attorney, I did not. I countered his request stating that it was to be our retirement and I basically had none because I was unemployed throughout the majority of our marriage. His concern was what if he got remarried to which my response was your new wife would not be my problem nor is she entitled to funds from that pension that rightfully should be due to me. Without legal counsel and in effort to continue with an uncontested divorce we agreed on the following in financial matters.

  • Marital home was sold for what was old with sale entered into prior to divorce therefore it was not involved in the settlement, neither of us actually benefited from the sale other than eliminating the obligation.

    The 2 family vehicles were divided with him keeping the paid off family van and me keeping the secondary family van and me being responsible to continue payments on this vehicle as it was still financed.

    Child support was awarded according to guidelines for both minor children until the standard age of 18 or 21 if they were still registered as students.

    Alimony was awarded for 2 years in an amount to cover approx. 50% of other marital debts acquired throughout the marriage. Later alimony was extended for an additional 2 years in the form of rehabilitative to allow me to acquire professional degree and reenter workforce.

    Health insurance for minor children to be paid for by him with non-covered medical expenses being equally divided between him and myself at a 50/50 split. No health insurance was continued for myself.

    Re: Pension. Wording states....

    Wife agrees to waive her rights to her portion from pension plans (2 of them) at this time provided the husband maintains wife as beneficiary in trust for the parties 2 minor children until such time as the youngest of the 2 turns 21.

.... NOW... my question.

Our divorce was final Nov. 2005. I have yet to receive any documentation reflecting the beneficiary status. I have asked him for this and he states that the pension holders do not provide him with any such documentation. (This I doubt that he can not obtain). He just remarried and I am a bit concerned regarding this matter. It was never my intention to forfeit my portion, I was simply waiving my right at the time, with provisions, until the youngest child reached 21. At the time of the divorce the amount in both funds totaled approx. $120,000 and he was Fully Vested. No QDRO was ever filed for or issued. Sooo...

  • Where do I stand with this now?
    Can he be forced to provide proof of beneficiaries?
    Can a QDRO be filed for now?
    Are my interests/rights towards funds in the pensions protected based on wording used in the settlement agreement?

Please help, need to understand this and know if I need to do anything to protect my interest and my children's interest.

MAG
« Last Edit: November 14, 2007, 11:33:10 PM by mari » Logged
livealittle
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Posts: 2926


« Reply #1 on: November 15, 2007, 09:24:10 AM »

I only read a few points you had made, but know that for you x to not have his present wife as the beneficiary on his retirement/life insurance she has to sign that she knows and agrees she is not the beneficiary.



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Lee Borden
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Posts: 1202



« Reply #2 on: November 15, 2007, 10:58:00 AM »

Where do I stand with this now? You need to file to get access to the documents you need.
Can he be forced to provide proof of beneficiaries? Ask your lawyer to file to change the decree to provide for documentation.
Can a QDRO be filed for now? In all likelihood, no, because there's no benefit that will be shared with you unless and until he dies.
Are my interests/rights towards funds in the pensions protected based on wording used in the settlement agreement? Hard to say. You and he picked a way to do this that is unusual.
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