QUESTION
Am I entitled to collect that in one lump sum instead of monthly payments of his retirement?
Asked on Mar 02nd, 2014 on Divorce - California
More details to this question:
I just found out that my ex-husband retired. In the divorce, it was stated that I am entitled to half of it. There is no mention of a limitation to file or anything else.
7 ANSWERS
Maybe. There isn't enough information here to tell. It will depend quite a bit on the nature of the retirement interests that were awarded to you.
Answered on Mar 10th, 2014 at 7:49 AM
Dispute Resolution Attorney serving Seattle, WA
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Law Offices of Helene Ellenbogen P.S.
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If you are entitled to half, has a QDRO been filed? How you can collect it depends on the type of retirement and the plan policy.
Answered on Mar 05th, 2014 at 10:54 PM
Bruce Provda
You need to speak with your attorney about the QDRO that was entered in this case and how it states that the money would be paid.
Answered on Mar 05th, 2014 at 10:54 PM
Personal Injury Attorney serving San Antonio, TX
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Law Offices of James P. Peterson
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The court should have granted a Qualified Domestic Relations Order (QDRO) to get the retirement. If they did not then go back to court (with a lawyer) and get a QDRO to get your share of the retirement. Pensions come in monthly payments. 401ks and such may come in a lump sum. Any distributions before retirement age are penalized and taxed.
Answered on Mar 05th, 2014 at 7:39 PM
Alternative Dispute Resolution Attorney serving Ventura, CA
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Zahn Law Office
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You get your share generally, in the same manner that he gets his, which is monthly. You can be bought out of your share, but that is done by mutual agreement and is usually done during the divorce.
Answered on Mar 05th, 2014 at 7:34 PM
Social Security Disability Attorney serving Melbourne, FL
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Law Office of Robert E. McCall
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Whether or not you can request a lump sum payment depends on the wording of your Final Judgment and the Plan documents. You need those documents reviewed by an attorney.
Answered on Mar 05th, 2014 at 7:31 PM
A document called a qualified domestic relations order needs to be prepared to get you your share. Otherwise you could get hit with heavy taxes.
Answered on Mar 05th, 2014 at 10:00 AM