Division Of Military Pension In Panama City
Last updated on September 19, 2024
In Florida, special rules govern the distribution of retirement benefits for service members and their spouses. Working with a skilled military divorce attorney familiar with federal laws and Florida state guidelines can make all the difference when it comes to securing your rightful share.
With over 25 years of experience handling high-asset and military divorce in Panama City, McCauley Law Offices, P.A., delivers wise and practical solutions. Our team has over 30 years of combined experience, which you can leverage to craft legal strategies that meet your needs. We understand the unique military rules and proceedings, meaning we can save our clients time and money.
Understanding Military Pension Division
In Florida, military pensions are treated as marital property and can be divided between spouses. However, the division of military retirement pay must follow the Uniformed Services Former Spouses’ Protection Act (USFSPA), which allows state courts to consider military retirement as divisible property.
The percentage awarded to the nonmilitary spouse can depend on the length of the marriage and how long the service member was in the military during the marriage.
The Importance Of The 10/10 Rule
The 10/10 rule is a definitive factor in dividing military pensions. This rule dictates that for the Defense Finance and Accounting Service (DFAS) to make direct payments to a former spouse, the couple must have been married for at least 10 years, during which the military member performed 10 years of creditable service.
If your marriage does not meet this rule, your former spouse may still be entitled to a portion of your pension, but the payments will not come directly from DFAS. An attorney can help ensure you receive your fair share of assets and navigate the intricate process of dividing military pensions.
Protect Your Military Rights In Panama City
Understanding how military pensions are divided is crucial for a fair divorce settlement in Panama City. You do not have to navigate the complexities of federal and state regulations alone; McCauley Law Offices, P.A., can help safeguard your financial future.
Call 850-299-4070 or contact us online today to schedule a consultation with our experienced attorney.