Dividing Pensions in a Divorce
Do You Know How This Process Works?
Florida treats pensions just like any other property, which means that they will be divided under equitable distribution laws during the divorce process. However, this process can take a considerable amount of effort and calculation in order to divide the pension equally between both spouses, especially when compared to dividing a set amount of money like what may sit in your bank account. Factors like the potential future value and each spouse’s pre-marital contributions to the pension can play a major role in determining who ends up with what, and an experienced family law attorney can help you prepare for any complication that may come up.
Divorce can be an incredibly stressful time for anyone, and our Tampa family law attorneys at Givens Givens Sparks are ready to help you prepare for and successfully navigate this process. With more than 135 years of collective experience, you can rest assured that your case is in good hands when you choose our firm. Whether you are just starting to plan for your divorce or if you’re already deep into the process, contact us today to discuss your case with an experienced divorce attorney.
How Are Pensions Divided?
Even though the benefits and / or funds provided by your pension won’t be available to you until you’re retired, courts can still divide them while they’re still growing. No matter how amicable your relationship is with your soon to be ex-spouse, an attorney can help make sure that your pension is fairly divided and that the division won’t have any negative consequences for its future payout. In addition, you may be able to keep a larger percentage, and possibly the entire pension, depending on your situation. Some common situations that can affect how your pension may be divided include:
- Pre-Marital Contributions: The court will likely award you a greater percentage of your pension if you contributed to or worked for it before your marriage began. Depending on how much you contributed, you may end up with the entire plan.
- Federal Plans: Your plan may not be eligible to be included in the property division portion of your divorce process if it was provided by the federal government.
Call us at (813) 518-7941 to speak with a member of our firm today.
Hire An Experienced Lawyer Today
You may begin to feel overwhelmed by the amount of work that goes into filing for divorce and the emotional stress the process can have on you and your family – that’s where we come in. At Givens Givens Sparks, our Tampa family law lawyers have helped thousands of families and individuals secure the beneficial outcome they need to move on to the next phase of their lives. Call us today at (813) 518-7941 to discuss your situation with a member of our firm, or fill out our online form to request a case evaluation today.