[Search for users] [Overall Top Noters] [List of all Conferences] [Download this site]

Conference quark::mennotes-v1

Title:Topics Pertaining to Men
Notice:Archived V1 - Current file is QUARK::MENNOTES
Moderator:QUARK::LIONEL
Created:Fri Nov 07 1986
Last Modified:Tue Jan 26 1993
Last Successful Update:Fri Jun 06 1997
Number of topics:867
Total number of notes:32923

475.0. "Can you lose 120%" by IAMOK::GRAY (Follow the hawk, when it circles, ...) Wed Jul 18 1990 19:37

       This is another (see 314.25+) "Pension = Marital Asset" question.

            A close friend of mine got divorced in Mass.  The court
       system valued his pension at $45,000 and gave his ex 60% of that.

            The important part here is that the $45,000 is the TOTAL
       value. They calculated from when he took the job 2 years before
       he got married to 23 years from now, long after his 17 year
       marriage will have ended. 

            He just called me and said that the lawyer who is working
       out the pre-nuptial agreement for his next marriage told him that
       his second wife is entitled, by law, to ask for the SAME
       settlement.  Yes, calculate the pension with the same job start
       to job end dates and give her 60% !!! 

            It staggers me to think that the court system could file a
       Court Order for two different women that totals 120% and leave
       this guy with less than zero at 60+ years old. 


       Has anyone out there had this done to them or anyone they know?


       Thanks,
       Richard
T.RTitleUserPersonal
Name
DateLines
475.1XCUSME::QUAYLEi.e. AnnWed Jul 18 1990 21:1316
    When I looked into divorce (should have gotten it then, it was a lot
    cheaper!) I was told that since my husband and I were married for
    seventeen of his twenty years armed service, I would be entitled to
    somewhat less than half his pension.  It's not easy to figure how much
    that would be since no one knows how long s/he will live, and the
    military pension is for life.  I planned to just take my share monthly
    rather than ask for a lump sum.
    
    I can't imagine awarding a spouse more than half a pension, even if the
    couple were married for the entire length of the employment.  This is a
    little scary since if my husband and I split I would receive just under
    half his pension while he could be awarded a bigger bite of mine. 
    Hmmm, not only cheaper but simpler just to stay married.  :)
                                      
    aq
    
475.2Beyond belief!DISCVR::GILMANThu Jul 19 1990 15:183
    The prior notes illustrates a perfect example of how unfairly our legal
    system can operate.  Its AMAZING how the legal system can get away with
    it!  It defies logic.
475.3Alimony for husband?DISCVR::GILMANThu Jul 19 1990 15:226
    Another thought:  How is it in these days of "equal rights", that the
    woman is awarded the alimony?  If either spouse does not work, and
    there is a divorce, then the alimony should go to the spouse
    (regardless of sex) who is not working.  Are there cases where the 
    HUSBAND receives the alimony?  If not, then guys, I think we should
    go to work on righting this inequality.  Jeff
475.4It's unfair either way.SELECT::APODACAOh, Allright. Name the 7 dwarves.Thu Jul 19 1990 16:0435
    I have a big problem with alimony in that it suggests that one can earn
    a free living after divorce by being doled out money by a person you
    are no longer related to.  It smacks of unfairness, and in this age of
    semi-equality (1/2 :), I would expect that a non-working spouse could
    go out and get a job rather than leeching partial income. 
    
    Yes, harsh, and I suppose SOME situations would prove the exception. 
    
    However, this isn't the "old days" where women didn't DO anything but
    be a homemaker and depended entirely on the man for support.  It was
    more the mandate than the choice.  Now, if in a present marriage, the
    spouse decides to stay home, that was their decision.  If the marriage
    dissolves, and the person now finds themselves bearing the consequences
    of that decision, well, it's rough, but I can't imagine the "fairness"
    of having to pay for someone's lives that is no longer even related to
    you.  It's scary.  
    
    I don't think there are too many men who get alimony, but there are
    probably a few who have married wealthy woman who get a settlement from
    a divorce or breakup.  Either way, I think the
    alimony/palimony/settlement system is terrifically antiquated, unfair
    to the payer, and a wonderful way to create untold animosity (as if
    divorce wasn't enough).  I would certainy stipulate in a prenuptual
    that no alimony is to be paid in case of a divorce, by myself, or to
    myself.
    
    re. 3:  I believe there is a small support group started by
    anote in this conference that is working the Mass. legislative end on
    unfair child support payments.  It may or may not include alimony. 
    Maybe someone can give you a pointer on the contacts -- I was dropped
    off the distribution list.  
    
    Cheers,                                   
    
    kim
475.5negotiate it!FSTTOO::BEANAttila the Hun was a LIBERAL!Thu Jul 19 1990 16:1718
    two years ago, my wife (of more than twenty years) and I were divorced. 
    I recognized that, according to Texas law, she was entitled to one half
    of any accrued retirement I might be entitled to up to the date of the
    divorce.  I was fully vested in another company, as well as DEC.  
    
    In order to releive myself of any future obligations (and to try to
    totally sever the relationship) I negotiated with her.  I gave her my
    entitlement to our real-property (residence, and one rental house) in
    full settlement for any entitlement she might have against my future
    retirement income.  She agreed (a bird in hand, so to speak) and that
    is the way the divorce decree is written.  
    
    I now have absolutely no liability to her for any portion of my
    retirement.
    
    It *IS* NEGOTIABLE.
    
    tony
475.6*either* spouseXCUSME::QUAYLEi.e. AnnThu Jul 19 1990 18:1614
    I don't think that sharing in a pension is regarded as alimony,
    although I could easily be mistaken.  As far as I know, I'd be awarded
    a little under half my husband's military pension since we were married
    for seventeen of his twenty years of service.  Also as far as I know,
    he'd be entitled to half my pension since we've been married for my
    entire time at Digital.
    
    A thought.  My lawyer told me that if a spouse is divorced on a
    [proved, I presume] charge of adultery the injured spouse may be
    awarded 60% instead of New Hampshire's standard 50%.
    
    aq
    
     
475.7Ever too late to catch the gravy train?NUTMEG::GODINSummertime an' the livin' is easyThu Jul 19 1990 18:2211
    Does anyone know for certain whether this award can happen years later? 
    Or, once the divorce decree is issued, is the case closed?
    
    I've been led to believe that _any_ previous spouse of more than -
    what?  10-12 years??? - is entitled to a share of Social Security and
    pensions earned/vested during the marriage.  If this is true, it's 
    conceivable that an individual with enough ex-spouses around could 
    retire with zilch, in spite of having worked and earned pension credits
    continuously over the years.  Lovely thought.
    
    Karen                 
475.8NOVA::FISHERDictionary is not.Thu Jul 19 1990 18:293
    re: .7:  Ever hear of Mickey Rooney?  :-)
    
    ed
475.9I've been thereDNEAST::DUPUIS_STEVEDuck's 'R UsThu Jul 19 1990 19:3631
475.10are there numbers available?BPOV02::MACKINNONProChoice is a form of democracyFri Jul 20 1990 12:5311
    
    
    Does anyone know the percentage of exspouses who are awarded alimony?
    
    I haven't seen this being awarded in the few cases I know of who have
    divorced within the past three years.  The main issues at hand have
    been custody, vistitation and child support.
    
    Any numbers available?
    
    Mi