If you are listed as a beneficiary under your spouse's plan, you have the right to contact the plan administrator directly to find out just what the plan is worth. A good attorney can do a better job than you can at securing your rights by getting an expert evaluation, and by legally joining the pension plan as a party in your divorce, just binding them to whatever orders the court makes regarding your interests. Joinder of the pension plan is the best way, but too complicated for you to do on your own. Going to an attorney may be very expensive now, but you have to weigh this against possible value to you in the future. A little pension money could mean a great deal to you later, and over a period of years it could add up. If you think your rights in a pension plan may be of significant value or importance to you, you should seek professional assistance to secure you maximum rights with maximum certainty. If you want to do it yourself, you can use the methods below either to settle the matter now or to put it off for later.
1. Trade-off or waiver: By this method, the employee spouse gets the half of the community share to which the non-employee spouse is entitled, thus having it all, and the non-employee spouse gets some other community property of a value equal to the share that was given up. This is most often an interest in the family home, but it could also be a promissory note. This kind of arrangement should be done as part of written Marital Settlement Agreement or by listing the pension in the Petition and dividing it in court along with the other property.
If there is not enough other community property for a trade off, and if no note is exchanged, then the non-employee spouse can simply waive (give up) all interest just to have the matter settled. This only makes sense if your interest isn't worth much or if you have plenty of other resources. The Petitioner can make an oral waiver at the hearing, but at an uncontested hearing the Respondent does not appear, so any waiver from Respondent must be part of a written agreement or in the form of a written waiver to be presented at the hearing by the Petitioner. Although not necessary, having it notarized is a good idea.
1. Trade-off or waiver: By this method, the employee spouse gets the half of the community share to which the non-employee spouse is entitled, thus having it all, and the non-employee spouse gets some other community property of a value equal to the share that was given up. This is most often an interest in the family home, but it could also be a promissory note. This kind of arrangement should be done as part of written Marital Settlement Agreement or by listing the pension in the Petition and dividing it in court along with the other property.
If there is not enough other community property for a trade off, and if no note is exchanged, then the non-employee spouse can simply waive (give up) all interest just to have the matter settled. This only makes sense if your interest isn't worth much or if you have plenty of other resources. The Petitioner can make an oral waiver at the hearing, but at an uncontested hearing the Respondent does not appear, so any waiver from Respondent must be part of a written agreement or in the form of a written waiver to be presented at the hearing by the Petitioner. Although not necessary, having it notarized is a good idea.
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