My divorce was finale on Tuesday. The court awarded part of my Husbannd's pension to me. I am wanting my husband to buy out the pension so I could have cash now.

Are there penalities and tax liabilities if he pays me cash for the pension amount? I would think that he would be saving going this route, but I could be wrong. He's wanting to settle on a lower amount than the court awarded.

Please Help

Susan

Unless the man has his pension coming in a very short period you're going to have to wait until he's actually drawing this pension if he is not doing so now. What you are describing sounds more like a 401K plan.

[QUOTE=mo77gal]My divorce was finale on Tuesday. The court awarded part of my Husbannd's pension to me. I am wanting my husband to buy out the pension so I could have cash now.

Are there penalities and tax liabilities if he pays me cash for the pension amount? I would think that he would be saving going this route, but I could be wrong. He's wanting to settle on a lower amount than the court awarded.


I would tell him you are following the Court's order - if it doesn't specify how and when, then I would go back to Court.