Florida uses an equitable distribution process regarding property division in a divorce. This means the amount of money you have contributed to your pension during your marriage must go through this process.
However, there are some things you can do to reduce the amount of money the court awards to your ex-spouse. Learn what these things are here.
Understand Florida’s property division rules
Some people do not fully understand the property division process in Florida. When “equitable” is used, it does not always mean equal. The court will determine what each spouse should receive based on several factors. For example, they can award your ex-spouse 50% or just 10% of your pension.
If you have a pre-or post-nuptial agreement outlining how pensions are handled during divorce, the court will likely use these guidelines. If you do not have this in place, your ex can request to receive a portion of the pension. This is done by filing a QDRO (Qualified Domestic Relations Order).
Keep accurate and updated records
You must keep track of what you have contributed to your pension through the years, the investments made with the money and the elements that determine how it works. This is information that will be required during the property division process.
Present an alternative
If you want to avoid having your pension split, offer your spouse something that is of similar value for their portion of your pension. Just remember, the agreement must be official.
Options to avoid splitting your pension in a divorce
Your pension would be part of the property division process if you contributed to it during your marriage. If you want to protect it from being divided, knowing your legal options is best.