Going through separation, everything has been, or in the process of being split up equitably. We dont have any formal documents about it since we’re just doing it on our own, and about done.
We’ve decided that I will remain forever the beneficiary of his pension. Where is the best place to make sure that is enforced, separation agreement, divorce document, Will? This is just futureproofing anything - if he remarries or anything - the pension is unquestionably and legally mine.
Thanks!
You will want this in a binding separation agreement that you are to forever remain the beneficiary of the pension.
You can also have the pension divided, which requires a special court order, so that when he starts drawing from his pension at retirement, you will also receive checks for one-half of the marital portion of the monthly pension payment. This is the better option than remaining the beneficiary because this ensures you actually receive half the marital value.
Another option is that you have the pension valued to the present day value and he pays you cash for half the marital value. This allows you to get the funds from the pension upfront rather than having to wait for him to reach retirement age to start receiving monthly payments.
Anna Ayscue
Attorney with Rosen Law Firm Cary • Chapel Hill • Durham • Raleigh • Wake Forest
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Hi, he actually just retired and will be collecting the pension now. That was meant for us to live on (if we stayed together) so that I didn’t have to have full time job, nor did he in retirement. we could just do whatever we wanted to and use the monthly retirement to live off of. Now with the separation, I have to work to get income - he doesnt since he gets the pension.
Thanks.