Military Members Need To Consider Division Of Their Retirement Benefits During Divorces
Posted on Mar 22, 2012 6:05pm PDT
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.