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P. Simmons
P. Simmons, Military Lawyer
Category: Military Law
Satisfied Customers: 33072
Experience:  Retired Marine Corps lawyer and Veterans Services Officer (VSO) with 12+ yrs. of experience.
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My wife filed and is asking a monthly payment or a buyout

Customer Question

My wife filed for divorce and is asking for either a monthly payment for life or a buyout based on the total value of the "fund" - as her attorney is calling it. The marital share is 1/2 of 6/24 (we were only in the military and married for 6 of my 24 years at retirement). She does not meet 10/10/10, so I would have to write her a check monthly in perpetuity. How is a "value" calculated? I'd rather buy her out than be 90 years old and still paying back doors alimony to her.
Submitted: 9 months ago.
Category: Military Law
Expert:  P. Simmons replied 9 months ago.

Hello! My name is ***** ***** I am a licensed attorney with more than 18 years of experience. I am here to assist you with your questions. Please understand that if I ask you for additional information, you are NOT charged again and our communications are NOT timed. So please see this as a relaxed conversation between friends. I am here to help

Also, if you would like to chat on the phone, let me know and I can make that happen.

I want to make sure I understand...are you asking if there is some required formula for the court to follow?

Customer: replied 9 months ago.
Regarding a formula, yes. I think her attorney believes that a military retirement is a "fund" which can be cashed out, rather than a defined benefit program. He's wanting its "value" - which, if I die tomorrow, is $0.00. If I die in 40 years, it's obviously more. I had initially applied what is her portion of the value (1/2 of 6/24ths, or 1/8 in the end) against the monthly, after-tax amount, then multiplied by 12 months for an annual amount, then again time six years for the number of years (6 years, 0 months) she was actually a military spouse.
Expert:  P. Simmons replied 9 months ago.

Thanks

So what is the question? Are you looking for ways to value the plan? OR are you asking if you can do this at all?

Customer: replied 9 months ago.
We're going to have to come up with a value somehow, just wondering if there's some kind of standard way of doing it without having to consult with an actuarial?
Expert:  P. Simmons replied 9 months ago.

Thanks

The actuarial is the standard way this is accomplished.

You look at your life expectancy (the IRS has tables that will give you this), then look at the value of your pension, over that time...then you discount for cash value.

Not complex math. But generally this is something that is farmed out to the accountant (since many lawyers are not strong in math)

But there is no "standard" way...or, at least not any particular way required under the law.

Please let me know if you have more questions. I am happy to help if I can. Otherwise, please rate the answer so I may get credit for my work.

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