My ex-wife receives 25% of my monthly retirement pay, but she recently told me I could keep all my retirement if I bought her out for $50,000.
Is this possible, and if so, what do I have to do?
I am unable to give you legal advice on divorce. I can give general divorce help for men, though, my knowledge is based on Colorado family laws where I am licensed to practice.
In terms of whether it is advisable for you to buy your ex-wife out of her interest in the military retirement for the amount listed, I recommend you speak first with a Certified Public Accountant.
A CPA can do a present day valuation on your account. I can’t say if the $50,000 buy out would be to your benefit because the return on the 25% monthly payment from the retirement may be more or less than that over the course of your retired life depending on how long you are drawing on the retirement.
A CPA can review that and give you an estimate using actuarial tables to give you a better idea of what that actual benefit is.
Generally, it is difficult (if not impossible) to reopen property settlements or court orders, especially the farther you are from the date the order was entered.
That being said, if you and your ex come to a stipulation and file that with the court, then the likelihood is the court will accept that and modify accordingly.
Remember, I am unable to provide you with anything more than divorce tips for men, so please consult with a divorce lawyer in your jurisdiction.
To arrange an initial consultation to discuss divorce rights for men with a Cordell & Cordell attorney, including Colorado Springs Divorce Lawyer Stephanie D. Rikeman, contact Cordell & Cordell.