June 4, 2009 • June Walbert
Q: I am the soon-to-be ex-spouse of a Coast Guard member after 14 years of marriage. He will retire in 5 months; we have 10-year-old triplets together. My question is about the retirement pay. My husband is trying to convince me that I can only receive up to 50% of the retirement pay including child support and alimony. I thought that it was that I could only get up to 50% of the retirement pay come direct deposit. Am I totally lost here?
-Tammy, HanscomAFB, Mass.
A: Triplets! Wow, I admire your stamina. First piece of advice: Make sure you get a good lawyer that is very familiar with military divorces. As far as your specific question, the limit your ex isreferencingis that no more than 50% of the military retirement payment may be made directly to you from DFAS. That does not apply in this situation. Because in the case where there is child support or alimony, 65% of the disposable retirement pay could be sent directly. Be sure that you are set with a hefty emergency fund and health insurance. Also, ensure there is adequate life insurance with you (or a trust for the kids) as beneficiary. If something should happen to him the kids still need food, shelter, clothing and education. Good luck in this new chapter of your life.
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65% is payable directly from DFAS as long as you meet the 10/10 requirement. Your decree needs to state that he is to make up in shortfalls himself and if DFAS will not pay you directly he has to.
Posted by: s | July 03, 2009 at 03:48 PM