Is my ex entitled to half of my inheritance?
Is Florida next?
In today’s post, we share more about the potential worries of adult children when their parents decide to divorce as seniors. In our last posting, we talked about:
We recently shared information about the new military retirement plan that came into existence in 2018. Going forward, the Department of Defense will place each active and retired service member in either the legacy plan or the new one, depending on his or her length of service, and a subset of service members will have the option to either remain in the legacy plan or opt into the new one through the end of 2018.
A complex issue our clients often face is the equitable division of pensions and other retirement benefits in divorce. The question of pension division is uniquely complicated in Florida when one of the spouses has accumulated financial interests in a pension as a firefighter or police officer.
Last week, we talked about the new military retirement program that was launched on January 1, 2018, called the Blended Retirement System or BRS. In that post, we described the historical, legacy plan as well as the features of the new BRS.
Whether you are an active or retired service member or a member of the Reserves or National Guard, or married to someone who serves or has served, the military pension you (or your spouse) has or will earn is one of your most important assets.
When you're first married, you're in love. You're in love with the idea of marriage, your spouse, your new life together and all the joys that come with it. During that time, many people purchase their first homes together and start a family.
Splitting your retirement accounts during divorce is something you might have to do, but it's not something you want to do yourself. This is a complicated task, and it's best left to professionals.
Getting a divorce is a big deal, so before you take that step, it's a good idea to decide if it's the right choice. Reconsider the option, because the last thing you want is to go through a divorce only to regret your decision.