Should I sign paperwork for my share of my ex husbands pension? 1 Answers as of July 22, 2011I was married for 11 years, we divorced in 1996. My ex-husband now says that I have to sign a paper whether I do or do not want my "share" of his pension. How is my "share" calculated, or what factors are considered. Is there any cons by me taking my "share" what should I watch for and do I have a right to call his company to obtain the information for accuracy?
Osterman Law LLC | Mark D. Osterman
You need to go back and look at the Judgment of Divorce and seeif you were awarded a part of the pension. If you were, it will tell you the percentage. For instance, here is a rough way to calculate itif he worked for Big Union Construction for 10 years, you were married to him for 6 years of that 10, then you are entitled to30% of the pension (1/2 of the 6 years our of 10). Be sure what is offered meets that requirement found in the Judgment of Divorce. When you get it, better get to see a CPA quickly to decide what to do. The money may be taxable at a rate Congress likes and you won't Most of the time you can roll-it-over in another retirement planAND get a tax deduction! Good luck!
Answer Applies to: Indiana