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  1. #1
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    Default Can You Get a Lump Sum Payout of a Military Pension

    I get a monthly check from my ex husbands military retirement, is it possible to get a lump sum instead of monthly payments?

  2. #2
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    Default Can You Get a Lump Sum Payout of a Military Pension

    My question involves a marriage in the state of: Texas. Wondering if anyone knows if it is possible to get a lump sum from an ex spouse military retirement fund? I get a monthly check but need a lump sum

  3. #3
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    Default Re: Divorce: Ex Spousal Military Retirement Pay

    Quote Quoting browneyes
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    My question involves a marriage in the state of: Texas. Wondering if anyone knows if it is possible to get a lump sum from an ex spouse military retirement fund? I get a monthly check but need a lump sum
    There is no method to get any kind of lump sum from military retirement. Its just doesn't work that way.

  4. #4
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    Default Re: Divorce: Ex Spousal Military Retirement Pay

    If this is an irrevocable payment, there are companies that "purchase" your term payout for a much reduced lump sum.


    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.


    Other than that, it is what it is.

  5. #5
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    Default Re: Divorce: Ex Spousal Military Retirement Pay

    Quote Quoting jk
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    If this is an irrevocable payment, there are companies that "purchase" your term payout for a much reduced lump sum.
    I am not sure that you can do something like that with a military pension.


    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.
    That might work but only if the ex has the money available.


    Other than that, it is what it is.
    Yep.

  6. #6
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    Default Re: Divorce: Ex Spousal Military Retirement Pay

    llworking;757572]I am not sure that you can do something like that with a military pension.
    what would prevent me from paying the OP $XXXX for the remainder of the anticipated payment? Even if the rights are not assignable, there are methods to set up a situation where the lender would effectively be paid directly.

    If nothing else, Johnny "Pick ax" Florentino would surely agree to entering into an agreement. I am sure the OP would be less apt to fail to make a payment to Johnny than if they used more standard programs that may be available.


    Where there is a will, (and that is meant to refer to a will and testament as well as synonym for determination), there is a way.

    That might work but only if the ex has the money available.
    and?

    or maybe only the means to borrow the amount of money needed.

  7. #7
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    Default Re: Divorce: Ex Spousal Military Retirement Pay

    Quote Quoting jk
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    what would prevent me from paying the OP $XXXX for the remainder of the anticipated payment? Even if the rights are not assignable, there are methods to set up a situation where the lender would effectively be paid directly.
    Unless you're Johnny Pickaxe, you're describing what amounts to an application for an unsecured loan.

  8. #8
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    Default Re: Divorce: Ex Spousal Military Retirement Pay

    Quote Quoting Mr. Knowitall
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    Unless you're Johnny Pickaxe, you're describing what amounts to an application for an unsecured loan.
    and?

    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.


    but since we don't know all the facts of the situation, a structured settlement purchase is still not out of the question entirely.

  9. #9
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    Default Re: Divorce: Ex Spousal Military Retirement Pay

    Quote Quoting jk
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    and?

    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.


    but since we don't know all the facts of the situation, a structured settlement purchase is still not out of the question entirely.
    Yes we do know all of the facts of the situation. Its a military pension divided in a divorce....that is all we need to know. We also know that she was married to the military member for at least 10 years of their service, since she is getting a direct check.

    We also know if that if military member cannot assign their pension to a third party lender, that their divorced spouse cannot assign their share either.

    Can someone assign their social security benefits to a third party lender in order to get a lump sum? Heck no. Why do you think a military pension is any different?

  10. #10
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    Default Re: Divorce: Ex Spousal Military Retirement Pay

    llworking;757655]Yes we do know all of the facts of the situation. Its a military pension divided in a divorce....that is all we need to know. We also know that she was married to the military member for at least 10 years of their service, since she is getting a direct check.
    so?

    We also know if that if military member cannot assign their pension to a third party lender, that their divorced spouse cannot assign their share either.
    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

    Can someone assign their social security benefits to a third party lender in order to get a lump sum? Heck no. Why do you think a military pension is any different?
    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.

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