Equitable Distribution - Retirement


#1

What can I expect for an equitable distribution, more importantly, can he collect part of my retirement? DOM: 12/98, DOS: 11/09; I am 50, Ex is 62; I have lived in FL since 11/09 (I left without his knowledge due to continued physical, mental, and verbal abuse), Ex still lives in NC in marital home. I receive income from the NC Disability Income Plan ($637/mo, 65% of base salary less SS disability–I do not receive SS disability) and work part-time in FL ($700/mo gross); Ex took early SS retirement at age 62 in 11/09 ($1400+/mo.) and still works full-time (monthly income unknown). Ex wants a portion of my retirement. I started work for the state of NC in 1982 (joined the state retirement system) and made contributions until 1990 when I became disabled; I have made no contributions since 1990; my retirement is based on my final base salary of $28,142 even though I no longer work for the state of NC (includes legislative increases to base salary of $14,362 since 1990); my projected retirement date is 5/1/12 with unreduced benefits from the NC Retirement System based on 30 years of being in the retirement system ($1280/mo). Ex has no retirement with his employer (employer stopped 401k and his balance was rolled over into an IRA with several withdrawals made prior to separation to pay mortgage payments, etc., and was depleted in early 2009). At DOS: mortgage balance was $232,000 (1st mortgage and equity line of credit; includes refinancing since date of acquisition in 1996 of over $103,000 in credit card debt of Ex) and appraised for less than $250,000; three vehicles: 1998 Dodge Ram (value $11,000, owed $8,900), 2005 Cadillac (value $11,000, owed $9200), 1992 Olds Delta Eighty-Eight ($500 +/-); John Deere Z-trac (value $9,000 owed $5,617). I had $17,400 in credit card debt ($6,950 of debt is items in home—fridge, dishwasher, bed, home improvement—tile, paint, toilets, etc.), Ex had $10,600 in credit card debt. I moved to FL and took only personal items (clothes, etc.) and the 2005 Cadillac; Ex lives in the marital home with everything acquired prior to and during marriage and has made all mortgage payments since DOS (approx. $19,600); I rent a house in FL ($500/mo–one-half of rent and share expenses).


#2

All money saved during the marriage (DOM-DOS) is martial property and subject to division. If you did not make contributions during the marriage and all money in the account is your separate property and will not be divided.

All martial property can be distributed via Equitable Distribution. I cannot predict the outcome of any one case or the distribution of any one asset. The court will identify,classify, value and divide all martial property equitably, which in NC is presumed to be equal.


#3

[quote=“Erin Clarey”]All money saved during the marriage (DOM-DOS) is martial property and subject to division. If you did not make contributions during the marriage and all money in the account is your separate property and will not be divided.

All martial property can be distributed via Equitable Distribution. I cannot predict the outcome of any one case or the distribution of any one asset. The court will identify,classify, value and divide all martial property equitably, which in NC is presumed to be equal.[/quote]

Is it possible for you to cite a NC case to substantiate the information with regards to the retirement being separate property?


#4

The language is in the statute.