Q: Will I get monthly payment from my husband’s pension after divorce is finalized? Or do I have to wait until retirement?
A:
In California, retirement benefits such as pensions are generally considered community property if they were earned during the marriage. This means that they are subject to division in a divorce. However, the specifics of when and how you can receive your share of your ex-spouse's pension depend on the type of pension plan and the terms of your divorce settlement.
Here are a few common scenarios:
1. If your ex-spouse is already receiving pension payments, the court may order that you receive your share of each monthly payment directly from the pension plan administrator.
2. If your ex-spouse is not yet receiving pension payments, you may have to wait until they retire to start receiving your portion. In this case, a Qualified Domestic Relations Order (QDRO) is typically used to establish your right to a portion of the future pension payments.
3. In some cases, you may be able to receive a lump-sum payment of your share of the pension at the time of divorce. This is less common and depends on the specific pension plan rules.
4. If you and your ex-spouse agree, you may be able to trade your share of the pension for other assets of equivalent value during the property division process.
It's important to work with an experienced family law attorney who can help you understand your rights and options regarding your ex-spouse's pension. They can also assist in drafting a QDRO if necessary to protect your interest in the pension benefits.
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