Divorce: New York

Divorce: New York

Category Archives: Pensions

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Oral Cohabitation Contract Claim Withstands Motion To Dismiss

Posted in Agreements and Stipulations, Miscellaneous Actions and Proceedings, Pensions
A non-written agreement for cohabitants to share retirement benefits can be enforceable under a breach of contract claim, but will not support claims to impose a constructive trust, or for unjust enrichment or an accounting. Such was the holding of the Appellate Division, Second Department, in its November 13, 2013 decision in Dee v. Rakower. [&hellip… Continue Reading

Ex-Wife’s Failure to Obtain DRO Before Ex-Husband’s Death Not a Bar to Recovery of Retirement Plan Death Benefits

Posted in Agreements and Stipulations, Equitable Distribution, Pensions
An ex-wife’s failure to obtain a Domestic Relations Order during her ex-husband’s lifetime did not bar relief after his death. The divorce settlement agreement provision that granted her the right to receive the ex-husband’s retirement plan death benefits could be enforced after his death more than seven years after the divorce judgment was entered. Suchwas [&hellip… Continue Reading

Mandating a Pension’s 50% Joint and Survivor Option in a Divorce

Posted in Equitable Distribution, Pensions
Almost all ERISA-Qualified Defined Benefit Plans (commonly known as “pensions”) are required to offer annuities (a stream of monthly payments). Where there is no divorce, the annuity must be paid as a Qualified Joint and Survivor Annuity unless the Participant’s spouse consents in writing at the time of retirement to a different form of payment. [&hellip… Continue Reading