Military Members Need To Consider Division Of Their Retirement Benefits During Divorces

In addition to monetary and physical assets, a divorcing couple must also consider the division of retirement plans. When one or both spouses are in the military, this can become more difficult. Since service members can work their way up to financially rewarding retirement benefits, the amount that a divorcing spouse could receive is substantial. Therefore, in some cases, a judge will look at the "present value" of a pension plan to determine how much the other spouse should receive after a military divorce. In cases that involve career service members, this amount could exceed $1 million.

Military divorce rates are high and increasing slightly every year. In fact, the divorce rates for the military are higher than general population's rate. With this being the case, those who are in the military need to ensure that they remain protected during their divorces. If you are a service man or woman, the best way to ensure you are protected as you terminate your marriage is by working with an experienced Jacksonville family lawyer that handles military divorces regularly, like the attorneys at our law office. To enlist our help and guidance, contact Hutchinson Law today and set up your initial consultation.