How Are Pensions Divided in a Divorce?
Do You Know How The Court Will Proceed?
Just like other types of property, pensions are subject to equitable distribution under Florida law. However, dividing a pension isn’t quite as simple as dividing a fixed amount of money like in a bank account – it requires a considerable amount of effort to determine how it should be fairly divided. Certain factors like how much each spouse contributed to the pension prior to the marriage as well as how the future value of the pension will be affected by things like inflation also play a major role in determining how and if the pension should be divided. If either you or your soon to be ex-spouse has a pension, you should consider hiring a family law attorney to help you navigate this complicated process.
Call us at (813) 375-0109 to speak with an experienced Tampa family law attorney about your case today.
At Givens Givens Sparks, our Tampa property division attorneys have represented individuals and families throughout Florida who are in need of experienced legal assistance. Property division can be one of the most contentious parts of any divorce, and you want to be sure that you have the support you need in order to secure a beneficial outcome. If you are considering filing for divorce or have already begun the process, contact us today to discuss your case with a member of our firm.
How Will The Pension Be Divided?
While you won’t receive the funds or benefits provided by your pension until you’ve retired, your pension can still be split before then. Even in cases where you and your soon to be ex-spouse are able to maintain an amicable relationship, hiring an attorney well versed in these laws is still the best option. There are a variety of situations that can allow you to keep a larger portion of your pension, and in some cases may allow you to keep it in its entirety.
Some of the more common situations that could affect how your pension plan is divided are:
- Federal Plans: If your pension is provided by the federal government rather than the state, it may not be eligible to be included in your divorce, which could allow you to keep the entire plan without worrying about splitting any portion.
- Pre-Marital Contributions: If you worked and contributed to your pension plan for years before your marriage began, it is likely that the court will award you a larger percentage – in some cases, you may even end up with the entirety of the plan.
How Can A Divorce Lawyer Help Me?
An experienced divorce lawyer can help you ensure that the right qualified domestic relations orders are properly entered, help put together a plan that will allow you to keep as much of your pension as possible, and help you understand what portion of your pension plan is considered separate property and which portion is considered community property among other things.
Don’t Wait To Hire The Lawyer You Need
Dealing with the emotional strain of a divorce can put an incredible amount of stress on all parties involved, and you may begin to feel overwhelmed by all off the additional paperwork and negotiations included in the process. Our Tampa property division lawyers at Givens Givens Sparks have helped countless individuals and families over the years, and are ready to use our 135 years of collective experience to help you too. Give us a call at (813) 375-0109 to speak with a member of our firm, or fill out our online form to get started by requesting a case consultation today.