Isn't it interesting how a successful man can divorce his wife, make sure she gets no alimony and not even be cordial at the wedding of his daughter?
He got the 1.8 million airplane, the boat in the Bahamas and is too chicken to even say hello to the woman who provided him his children.
The second wife, never wanted children of her own or his children and she controls the show. His mother, his children all follow the money, HIS!
Try to get a life at 63, sick, on disability while he is with the Queen of the Trailer park! Seriously!
God Bless America!
C Parker
of NC
@
Sep 06, 2008 21:10:49 PM
Financial Rights of First Wives
Chuckling at the protrayal of divorce in the media? The litigants among my membership become enraged, dismayed, disgusted, for the truth of what decent first spouses in contested divorce actions end up with post divorce customarily leaves them, especially the wives, eating cat food after 20 some odd years marriage.
Kim Lurie
The Alliance to Restore Integrity in Divorce
President
Kim Lurie
of NY
@
Jul 15, 2008 08:46:55 AM
Financial Rights of First Wives
I hate to be a stickler for details, but the absolute right is not absolute. There is a specific provision in the regulations that allows for exceptions for short-term marriages.
Question 26 of Regulation 1.401(a)-20 allows a plan to require that a participant be married for at least a year. Other than that, the participant’s spouse must waive their right to be the beneficiary. The following may be helpful:
Requirements of qualified joint and survivor annuity and qualified preretirement survivor annuity
§1.401(a)-20
Q-32: What rules govern a participant’s waiver of the spousal benefit under section 401(a)(11)(B)?
A-32: (a) Application. In the case of a defined contribution plan that is not subject to the survivor annuity requirements of sections 401(a)(11) and 417, a participant may waive the spousal benefit of section 401(a)(11)(B)(iii) if the conditions of paragraph (b) are satisfied. In general, a spousal benefit is the nonforfeitable account balance on the participant’s date of death.
(b) Conditions. In general, the same conditions, other than the age 35 requirement, that apply to the participant’s waiver of a QPSA and the spouse’s consent thereto apply to the participant’s waiver of the spousal benefit and the spouse’s consent thereto. See Q&A-31. Thus, the participant’s waiver of the spousal benefit must state the specific nonspouse beneficiary who will receive such benefit. The waiver is not required to specify the optional form of benefit. The participant may change the optional form of benefit, but not the nonspouse beneficiary, without obtaining the spouse’s consent.
Kimberly Palmer, senior editor for U.S. News & World Report, writes about how to save money, avoid scams, manage debt, and be a savvy shopper. Send your personal finance questions to her for expert money advice.
C Parker of NC @ Sep 06, 2008 21:10:49 PM
Kim Lurie of NY @ Jul 15, 2008 08:46:55 AM
Richard Carpenter @ Jul 14, 2008 13:48:37 PM
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