My boyfriend has been divorced once and his ex will receive half of his retirement for an agreed period of time. Well now my boyfriend is going through his second divorce and today at mediation, the agreement he was advised to take was that his soon to be ex will receive half of his retirement for an agreed period of tme. My question is, if both ex-wives are entitled to half each, how will this work? Will ex #1 get her money first then after she receives all of her money does ex #2 get her money? If both exes get half of his retirement, both can't their half at the same time, right? If both were to be paid at the same time, he'd have no retirement money to live on.
2006-10-03 11:43:28 · 2 answers · asked by maryannmccarthy2003 6 in Family & Relationships ➔ Marriage & Divorce
I'm no Atty and DON'T know if Mich. law is different from Tx...
(but here's the deal, here...)
Amounts will be based on how much He PAID IN AND THE COMPANY MATCHED """WHILE""" MARRIED...
(to each)...
In other words.....lets say He was married to the first lady when He got the job and started investing in the Retirement fund ---and divorced after 10 yrs.........she'll be entitled to 1/2 of that...
Then He married lady #2 (a year later) and stays married for 2 yrs. She will only be entitled to 50% of the money paid in... during the actual marriage...(so her portion is based on only TWO years of savings and Co. matching.
(and) the year that He was single - no one but Him is entitled to...
as well as... (if He is currently single)... any current investments will not be divided with either ex.......
(((He needs to quit "marrying"... and/or consider a prenumpt...)))
(OR)
Get a better divorce atty... (lol)
2006-10-03 11:58:49 · answer #1 · answered by Uwanna Kissimmi 6 · 0⤊ 0⤋
Why are you dating someone who has been divorced twice and its old enought to retire? MOVE ON!!!
2006-10-03 18:46:07 · answer #2 · answered by Anonymous · 0⤊ 0⤋