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  1. #11
    Join Date
    Oct 2006
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    Default Re: Divorce: Ex Spousal Military Retirement Pay

    Quote Quoting jk
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    so?

    so? I will presume you erred when you said "if that if military member cannot assign..." Not sure exactly what you meant but I'm guessing the first if was not intended. That still leaves "that if a military member..." but left out an "a" after the if. So, are you saying you don't know?

    was it supposed to be one of the following?


    know that a military member cannot assign

    or

    know that if a military member cannot assign

    you are the one stuck on it have to being an assignment, not me. OP was looking for a lump sum payment in exchange of the scheduled payments. While it may not be possible directly, there are other ways to provide the OP with a lump sum in exchange for their monthly payments. If you can't think outside of the box, that is your problem.
    There is thinking outside the box, and there is leading someone down an impossible path. Your suggestion that the OP work with her ex regarding lump sum was potentially thinking outside of the box...assuming that her ex was in a position to entertain that and assuming that the military would agree.

    Your suggestion that a third party would give her a lump sum on a military pension divided in a divorce was absurd.

  2. #12
    Join Date
    Jan 2006
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    38,867

    Default Re: Divorce: Ex Spousal Military Retirement Pay

    Quote Quoting llworking
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    Your suggestion that a third party would give her a lump sum on a military pension divided in a divorce was absurd.
    Here is absurd:


    I'll do it...

    under my terms of course. Not going to give her anything more than pennies on the dollar and she will have to allow a lien on any real property and any cute female children but hey, it's there if she wants it. Anything can be sold. All it takes is a willing and able buyer and an agreed upon price.


    and I did not assume anything of her ex-spouse. . This is what I said:

    If this is due to a divorce order and not determined by the rules of the pension itself, you may consider approaching the ex and asking if they will purchase your rights.
    I specifically stated that if this was not based on a formal division that allows a separate payment directly to the OP and not subject to interruption by the ex-spouse (such as a QDRO would do), but rather a division after the payment of the regular disbursal where the payments could be reallocated such that the ex receives the entire amount , that if the ex was open to the possibility and could afford to do so, that would be one avenue for the OP to explore.

    On top of that, if the division is due to a QDRO, if there is a possibility it be revisited, it would be that much simpler.

    the purpose of my post was not to do anything more than give the OP some avenues to explore. They could be made to work in some situations while in others, they simply wouldn't.


    Your suggestion that a third party would give her a lump sum on a military pension divided in a divorce was absurd.
    actually given the fact that is probably one of the most secure pensions in the entire country, it would be more likely to happen than a person on a pension from someplace like Studebaker or United Airlines. Not in the terms you are considering but I can think of several possibilities where it would have a very similar effect as an actual reassignment of her pension rights.

  3. #13
    Join Date
    Sep 2005
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    Default Re: Divorce: Ex Spousal Military Retirement Pay

    Quote Quoting jk
    View Post
    that doesn't mean there aren't those that would enter into such a contract. As well, the lender could require additional and actual security. It wouldn't be the "tightest" contract out there but I would suspect the amount offered would reflect the risks.
    If the lender requires "additional security", it's hardly a loan secured by the pension. But please - name a few of the non mob-connected lenders who would attempt to secure a loan, even in part, by attaching a military pension.
    Quote Quoting jk;
    but since we don't know all the facts of the situation, a structured settlement purchase is still not out of the question entirely.
    We have been told that this is a military pension, which seems to be enough to determine that no company is going to purchase the pension in the manner of a structured settlement. If you disagree, please identify even one company that will do so.
    Quote Quoting llworking
    View Post
    There is thinking outside the box, and there is leading someone down an impossible path. Your suggestion that the OP work with her ex regarding lump sum was potentially thinking outside of the box...assuming that her ex was in a position to entertain that and assuming that the military would agree.
    Even assuming the ex-spouse is willing and able to buy out her interest, it is much better to work out that type of arrangement at the time of divorce, or at least before the pension goes into pay status. There is nothing in the statutes governing military pensions that authorizes such an arrangement, although I have not looked for other authority. If that's an avenue they want to try to pursue, I would suggest that they work with a lawyer who handles military pension issues.
    Quote Quoting jk
    I specifically stated that if this was not based on a formal division that allows a separate payment directly to the OP and not subject to interruption by the ex-spouse (such as a QDRO would do), but rather a division after the payment of the regular disbursal where the payments could be reallocated such that the ex receives the entire amount , that if the ex was open to the possibility and could afford to do so, that would be one avenue for the OP to explore.
    For a military pension, you would file a Military Pension Division Order (MPDO) as opposed to a QDRO. The original post suggests that the division is formal, and that we're talking bout pension payments and not spousal support. Sure, if this is spousal support it becomes much easier for the parties to modify their arrangement.
    Quote Quoting jk
    actually given the fact that is probably one of the most secure pensions in the entire country, it would be more likely to happen than a person on a pension from someplace like Studebaker or United Airlines.
    No, it wouldn't, because no financial institution is going to make a lump sum purchase of a military when they cannot attach the pension or enforce their rights to receive the pension payments through a court.

  4. #14
    Join Date
    Jan 2006
    Posts
    38,867

    Default Re: Divorce: Ex Spousal Military Retirement Pay

    No, it wouldn't, because no financial institution is going to make a lump sum purchase of a military when they cannot attach the pension or enforce their rights to receive the pension payments through a court.
    my reference to it being secure was referring to the dependability of the continuation of the payment as opposed to a situation such as a Studebaker or United Airlines employee dealt with.


    For a military pension, you would file a Military Pension Division Order (MPDO) as opposed to a QDRO. The original post suggests that the division is formal, and that we're talking bout pension payments and not spousal support. Sure, if this is spousal support it becomes much easier for the parties to modify their arrangement.
    is an MPDO amendable? If so, that makes the possibility of a a spousal "purchase" a more realistic possibility. If not, it still does not preclude a contractual purchase of future income from the pension (simply put: a loan). There can be mechanism put in place that would allow the redirection of the payments to allow the creditor access to the money effectively directly after disbursal. Yes, the debtor can take actions to frustrate both that system as well as the repayment of the debt itself but that does not mean it should not be reviewed as a possibility if the situation otherwise allows for it.


    Even assuming the ex-spouse is willing and able to buy out her interest, it is much better to work out that type of arrangement at the time of divorce, or at least before the pension goes into pay status. There is nothing in the statutes governing military pensions that authorizes such an arrangement, although I have not looked for other authority. If that's an avenue they want to try to pursue, I would suggest that they work with a lawyer who handles military pension issues.
    there are a lot of things I should have done in my life that I didn't. That doesn't mean I should not make an attempt to alter the current circumstances to attempt to change things such that I have a similar or same result now.

    If the lender requires "additional security", it's hardly a loan secured by the pension. But please - name a few of the non mob-connected lenders who would attempt to secure a loan, even in part, by attaching a military pension.
    of course it is not a loan secured by an actual security agreement with the pension as collateral. As has been stated, that is not a possibility. My statement was not suggesting such an arrangement but merely a loan with the source of income available for repayment known to be secure along with attachment of other interest actual contractual security may allow for the OP to obtain some resolution to her dilemma.

    We have been told that this is a military pension, which seems to be enough to determine that no company is going to purchase the pension in the manner of a structured settlement. If you disagree, please identify even one company that will do so.
    I really did not read much from these sites but they are advertising what appears to be exactly what the OP is seeking.

    http://www.advantagefinancialconsult...y-pension.html

    http://www.integrityfunding.net/military.htm

    http://www.pensionlumpsums.com/selli...itary-pension/



    All my suggestions were meant as areas the OP may consider exploring. It was not intended to be a treatise on any specific possibility.

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