Divorce and Retirement Plans – How is your Retirement Plan Distributed in a Divorce Proceeding?

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Under Florida Statute sec. 61.076, any benefits and rights accrued during a marriage from a retirement, pension, profit-sharing, annuity, insurance plans and programs or deferred compensation are considered martial assets and are, therefore, subject to equitable distribution under Florida Law. For military retirement or retainer pay the following criteria must be met: you and your spouse were married for at least 10 years, one spouse was a member of the federal uniform services and gave at least 10 years of credible service, and the division of the marital property includes a division of military retirement or retainer pay.

Equitable distribution divides martial property based on principles of equity. In states that employ equitable distribution (among them is Florida), the courts will consider a number of factors to determine how to divide the marital assets and liabilities upon divorce. Equitable distribution is not necessarily a 50/50 split of all the martial property and debt – equitable does not mean equal.

An experienced Florida Divorce Attorney is highly familiar with Florida’s equitable distribution laws and other applicable statutes. Therefore, it is in your best interest to contact a Florida Divorce Attorney who can protect and maximize your legal interests.