QUESTION
Where do I stand currently in the event of a divorce if both wife and I have pensions for a local government?
Asked on Mar 11th, 2016 on Divorce - Florida
More details to this question:
I was married in 2007. I retired in 2/1/2016, age 62, wife age is 61. Wife is still working. She owns the house, been 50% each for mortgage since marriage. I am currently collecting my pension. I was, and she is still employed by the same municipality. My current pension is larger than her future estimate but by not by more than $10,000. I think it would be a wash, and go our separate ways, please advise based on this information. Thank you!
3 ANSWERS
Criminal Defense Attorney serving Deltona, FL
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R. Jason de Groot, P.A.
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Based upon only this information, there is not much I can tell you. Each is entitled to one-half of the amounts contributed to the other pension during the marriage, and you appear to have an equitable interest in the home. Go see a local family attorney for a full discussion about all of this.
Answered on Apr 13th, 2016 at 10:11 AM
Medical Malpractice Attorney serving Clermont, FL
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Joanna Mitchell & Associates, P.A.
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In Florida, any and all marital assets, including pensions and real estate, are typically divided 50/50, regardless of whose name they are in. So, if the house was bought during the marriage, you would be entitled to 50% of its value (appraised value, less any remaining mortgages). On the pensions, if they are nearly equal, they would be "a wash" as you state, except that the $10,000.00 difference (of which she would be entitled to $5,000.00) could come from some other asset, like the house. At the end of the day, when all is divided, each party should end up with 50% of the marital assets. Marital assets are defined as anything acquired during the marriage. The same applies to marital debts.
Answered on Apr 13th, 2016 at 10:04 AM
Your best option is to consider Mediation. Mediation is Fast, Effective and Affordable. You will have to go to mediation before you can get a Court Judgement for Dissolution, so you might as well do it now and save yourselves time and money.
Answered on Apr 13th, 2016 at 9:42 AM