While the normally automatic law in Florida is that, in the event of divorce, each spouse is entitled to half of the other spouse’s retirement or pension benefits which accumulated in such a plan during the years of marriage (your “marital share”), divorcing parties sometimes do not realize that even a pension or retirement plan that pays out as a result of one spouse’s disability can also be subject to equitable distribution.
It is so important to have an attorney advise you and represent your interests in Court when dealing with a disability benefit. What the circumstances surrounding the disability are (for instance, did the disability occur on the job or was it unrelated to the employment), when the disability benefit began being paid out to the disabled spouse as opposed to when the disabled spouse’s normal date of retirement was or would have been, and when the retirement benefits “vested” are all crucial issues that will determine what portion of such disability benefit is marital or nonmarital in nature.
The Law Office of Summer R. Nichols deals with equitable distribution issues involving regular and abnormal retirement and pension plans every day. Do not go without legal representation when trying to deal with important financial issues such as these. A good attorney is not an expense, but the ultimate investment your future. Call today to schedule your free consultation.
See Weisfeld v. Weisfeld, 545 So. 2d 1341 (Fla. 1989) and “Determining the Nonmarital Portion of Pensions and Retirement Benefits”, 83-FEB Fla. B.J. 37 (2009)