WE HAVE AN AGREEMENT

[Bernadine]

Tentative, still has to go through the court system. But he's taking the house, only 25% of my retirement account, and no alimony. It's actually more than I wanted, because I'm not getting stuck with the house. It looks like I'll be divorced by the end of April. Holy shit.

[discogranny]

Congratulations!

[Deleted]

If you're thrilled, I'm thrilled.

I'm so ready for this to be over for you, once and for all. You deserve it, friend.

[alzi]

WOOOOOO!!!!! I hope you are getting paid for the house??

[speckledfrog]

I almost broke my finger rushing to click on this thread. I am so freaking happy for you!!!

[Deleted]

I'm glad you're finally nearing the end with all this!

[poppyseed]

So happy for you, bern. I hope you celebrate the shit out of this in April!

[wrathofkuus]

Is he paying you back for the house?

[AlpineSlide]

Congrats!!

[Deleted]

I know you are relieved. And nervous and excited and everything else. All the best to you, Bern.

[pantsparty]

Yay! So good to hear you're close to the end!

[cheeseandcrackers]

I don't understand why he is getting your retirement account though?

[julez]

Thank you GOD. What a relief! Congrats, Bernadine!

[ProfessorArtNerd]

It's almost over! It's almost over!!! I can't wait to party with you, let's do an O's game!

[speckledfrog]

namasteak, wrathofkuus - I think Bern has said before that her mortgage payments would be reflected in the amount of retirement he got (25% vs 50%).

[KKD]

Oh my gosh, I am so happy for you! The end is in sight!

[partiallysunny]

Yay! Congratulations.

[wrathofkuus]

Hrm. Is that usual, that one ex-spouse gets part of the other's retirement account?

[revolution]

STFU this is great! I hope the next month and a half fly by for you! Wow and YAY!

[Bernadine]

Speckled is right- he's not getting his full 50% of my retirement in return for me paying the mortgage.

Yes! O's game!

[pantsparty]

Mar 11, 2013 14:24:54 GMT -5 wrathofkuus said:

Hrm. Is that usual, that one ex-spouse gets part of the other's retirement account?

It depends on the length of the marriage, but yes, unfortunately this is somewhat common.

[thebamker]

Mar 11, 2013 14:24:54 GMT -5 wrathofkuus said:

Hrm. Is that usual, that one ex-spouse gets part of the other's retirement account?

the 'richer' spouse typically loses their ass. 

[margarita]

This is great! Congrats Bernadine!

[Jalapeñomel]

Finally!! I´m so happy for you!

[Deleted]

The end is near!
I am still surprised he gets some of your retirement account considering you have no kids and he is young and able to work. If you were a couple in your 50s and he didn't work for whatever reason I would understand but this is not the case. Oh well, at least your credit is intact, right?

Congrats!

[janiejones]

Does he get 25% of the current value, or projected value?

Please say current!!

Also, the light at the end of this tunnel? It's getting closer.

[Deleted]

YAY! Good for you Bernadine!

[Deleted]

I WISH I COULD LIKE THIS LIKE 10,000 TIMES.

yay!!!

congratulations!

i'm glad the old bastard is "paying you back" for the house.

[bigang]

YAY for finally getting a settlement!!!

In the state where I was divorced, retirement accounts are treated like any other savings account. They are generally funded by salary, which during marriage is joint income, so they split it with the other assets. If both people have retirement accounts, they split them so both parties leave with an even amount. If one party has a retirement account and the other doesn't, the party without the account gets 50%. I don't know how it is in her state. I had to cash out 50% of the CURRENT value and roll it over into a retirement account for my ex. The judge factored in the amount of penalties that I would have to pay for cashing out early and we split that 50/50 as well.

[Deleted]

Mar 11, 2013 14:24:54 GMT -5 wrathofkuus said:

Hrm. Is that usual, that one ex-spouse gets part of the other's retirement account?

yes, because it's funded with "marital property" (i.e., income during your marriage).  very little of what comes into your possession, property-wise, during a marriage is "yours" legally, in most states.  your paycheck?  everyone's.  your inheritance?  yours.