Q: Want to modify my support payments to ex when I retire. She got house, I got 401k
Marriage was for 22 years, been divorced since 2009 (12 years). Resident of California at time of divorce, moved out of state since. In divorce wife was awarded the family home and spousal support. I was awarded my 401k retirement. I wish to retire in a year when I turn 65. My plan is to live off of only my 401k distributions until maximum Social Security benefits are available to supplement my income. I will need to have the support to my ex-wife terminated or greatly reduced to accomplish this . How do I go about it? And how much of my 401k distributions would she be eligible for? I in my mind she should not be entitled to any of it.
A: Assuming your case was vented here in California, if your retirement impacts your monthly income available for support, you should file a Request for Order re modification of support based on that change in circumstances. In terms of your 401k distributions, income is income for purposes of the calculations used to determine how much support you should pay.
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