What would happen if my husband signs his retirement over? 6 Answers as of August 12, 2015

My husband wants me to sign over to him his retirement that he set up years ago at 50/50. What are my rights if I do this? He claims this is so he can draw full retirement, but in case of his death I will not be left any of his retirement. He said that he would get an insurance policy in case something happened to him. However he is almost 60 and this insurance would be very expensive.

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Ashcraft & Ashcraft, Ltd.
Ashcraft & Ashcraft, Ltd. | Randall C. Romei
This question cannot be answered without know what is meant by your husbands retirement.. Is it an IRA account? Pension account? An annuity? You should review the terms of this account and the array of available benefits and benefit options with an attorney. If you sign over spousal rights you will probably lose any opportunity to benefit from the account.
Answer Applies to: Illinois
Replied: 8/12/2015
Goldsmith & Guymon
Goldsmith & Guymon | Dara Goldsmith
If you sign it over, you probably have no rights. I think you need to speak with the plan administrator about options. Thereafter you may wish to address with a financial advisor. I am not sure why you would want to agree to that.... This is opinion is solely based upon the facts presented in the inquiry. Additional facts may be important and may change the analysis. If you are uncertain, seek legal counsel. We are not your attorneys. This answer is being offered to assist you in determining if you need to retain legal counsel to assist you, not to resolve your issue through an email inquiry.
Answer Applies to: Nevada
Replied: 8/12/2015
Sebby Law Office
Sebby Law Office | Jayne Sebby
Work closely with your husband to make sure that you are fully protected after his death if you choose to do this. But first meet with an experienced estate or retirement benefit planner to talk about all options available for both of you and what provides the best long-term solution. If your husband won't won't go with you, go by yourself. You have an obligation to educate yourself about retirement planning.
Answer Applies to: Nebraska
Replied: 8/12/2015
Law Offices of George H. Shers | George H. Shers
You probably would lose any right to his retirement benefits. ?Why does he want you to give up this income? ?Is he planning on leaving you
Answer Applies to: California
Replied: 8/12/2015
Law Office Of Victor Waid
Law Office Of Victor Waid | Victor Waid
Seek the services of a family law lawyer that understands and can advise you re the division of retirements; be careful here.
Answer Applies to: California
Replied: 8/12/2015
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