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Reply to "Divorce and Survivor's Annuity Question"
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[quote=Anonymous]In my divorce, I chose to keep (and I now pay for) my ex-husband's survivor's annuity benefit. During our marriage ex wanted me to waive the annuity, and advised that a term life insurance policy would be less expensive on a monthly basis, and pay more in the long run. I refused to waive the survivor's annuity, as I resigned from my position and gave up having a "retirement" to raise our two young children, and maintaining the annuity seemed to be a wiser choice at that time. When ex walked out, I had to hire a lawyer and a PL was filed for abandonment and adultery. Fast forward, divorce is final, retirement PSA still needs to be completed and filed by attorney (who is trying to rack up monthly legal fees before I finally am free, sadly, dealing with and paying my attorney was as horrible as going through the divorce), and my ex is still trying to convince me to waive the annuity and go with term life insurance. I'd appreciate any constructive insight on why this maybe a better option for me? After all the drama, I just don't trust his perspective, motives, etc., but he is more financially savvy. I have primary custody of my two children who are still elementary school aged, house had to be sold at a loss, and am looking for work and renting. Ex has retirement and working in private industry. Thanks. [/quote]
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