The 10-Year Rule
Division of Military Pensions in Divorce
In the state of Florida, assets are divided in divorce on an equitable distribution principle, which means that you will receive an equal share of the marital property. But what is marital property? This is the property accumulated during the course of a marriage such as real estate, vehicles, bank accounts, and many other assets. This also includes various assets such as pensions.
If you are married to an individual who has served in the military and they are designated to receive a military pension, then you may be wondering if this is included in the marital property in the case of divorce. This is where the ten-year rule comes into play.
In order to receive a share of the military pension from the Defense Finance and Accounting Service (DFAS), there must be at least ten years of marriage coincident with ten years of military service, either active or reserve. Anything less than ten years would leave the retired service member accountable for paying their former spouse directly.
If you are facing a divorce where you wish to receive a portion of this military pension, then you need to retain skilled representation in your case. It is also important to know that there are some cases where a portion of this pension may be ordered to be included in division of assets outside of the ten-year rule, and I can help determine this for you.
The Ten-Year Rule is a very misunderstood concept by those experiencing a military divorce. The divorce does not have to last for ten years to entitle the non-service member to a portion of benefits.
It refers, rather, to the method that the spouse receives the share of benefits. If the Ten-Year Rule is not met, money will have to directly distribute the non-military member's share from the military member's retirement pay. This rule affects only the way in which the money is distributed.
Facing military divorce in Jacksonville, FL?
I am Charles E. Willmott and I have over two decades of legal experience that I can put to work for you in the situation that you face. I have been serving the residents of Jacksonville, Florida in various family law matters for a number of years, and you can count on me to stand by you and work with you to pursue the results that you need for your future. When you choose my legal assistance, you can be sure that I will work to help you achieve the results that you need to the best of my ability, and that I will handle your case with compassion and honesty every step of the way.
Contact me for the representation that you need today!