Counting Down to #10 Military Divorce Mistakes
In “Part 6” of Military Divorce Mistakes, I talked about retaining more than 50% of the military pension distributions. If you or your spouse is a military member please do not use this brief summary as an advice guide. Every case is different. Seek the advice of an experienced family divorce attorney in person who can review your personal situation. Today, pension insurance continues the list of definite “don’ts” associated with those serving in the military and divorce.
Top 15 Tampa Military Divorce Pitfalls
Continuing the list with numbers 12 and 13, the most commonly made costly divorce errors to be avoided when seeking a military divorce. Do not:
12. + 13. Forget to insure the military pension or forget to perfect the insurance with SBP. Bottom line, a military pension stops when the member dies, even if you traded your share of assets for pension distributions. You need to indemnify yourself against the member’s death. SBP offers insurance, but there are definition nuances that occur when you become a “former spouse” which can prevent you from receiving the benefit of the insurance. You’ll need a special court order before the military member dies in order to receive the SBP insurance benefit, which provides for 55% of the base retirement pay plus COLA (cost of living adjustment.)
Next on Tampa Military Divorce
Next up, I gloss over pension insurance issues as I continue counting down the treacherous list of “don’ts” when considering a Tampa military divorce. If you are thinking of a divorce with military concerns, consult with a lawyer who has experience in collaborative divorce, mediation, and traditional adversarial divorce so you can receive insight on which type of divorce may be right for you. Seek out Tampa divorce attorneys with the knowledge you need. Seek out S. David Anton of Anton Legal Group!
David Anton is a third generation Tampa Bay attorney who has handled all aspects of dissolution actions since 1985.
FOR FAMILY LAW LEGAL ADVICE, PLEASE FEEL FREE TO CONTACT US AT (813) 443-5249.