Some people approach divorce as an adversarial process. They assume that they have to fight to get what they deserve. However, state statutes in Florida already protect people from highly unfair divorce outcomes.
The state requires an equitable distribution of property and can allow for alimony payments in some cases as well. If divorcing spouses are close to retirement age, uncertainty about financial stability during retirement could lead to unnecessary conflict. The good news is that spouses don’t have to fight each other to have a right to retirement resources after a divorce.
The law protects both spouses
Under equitable distribution rules, both spouses have an interest in the retirement savings and pension benefits accrued by either spouse. It is possible to negotiate arrangements in which they share those resources fairly.
Even if spouses do not directly divide pensions or retirement savings accounts, they can factor in their value when making decisions about other resources or financial support. Lower-earning spouses can also access critical state benefits after a divorce.
Provided that the marriage lasted at least 10 years, a lower-earning spouse could be eligible for Medicare benefits based on the employment history of the other spouse. They could receive Social Security retirement benefits if they do not qualify on their own.
They could also supplement their earned Social Security retirement benefits based on the benefits accrued by their spouse. Claims by lower-earning spouses do not diminish the Social Security or Medicare benefits of the wage-earning spouse. In other words, it is unnecessary to fight over these resources, as sharing them is standard.
Employing a collaborative approach to divorce can help people preserve more of their resources for their golden years. Spouses concerned about retirement may need help navigating an amicable divorce, and that’s okay.
