What is the best strategy to protect my retirement if I am considering divorce? 5 Answers as of June 17, 2011

I have been a teacher for 33 years. I've been married for 12 years. I am planning on retiring from teaching in 3 years. I will receive a monthly pension of approximately $2,000. I am also in the DROP program and should receive a sum of $250,000 upon retiring, which I'm planning to invest for when I'm really old and can no longer work. I've been thinking of divorcing. What would my husband be entitled to? Is there something I can do to proactively protect my interests? Would it be better to divorce before I retire and before I receive my benefits?

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Pontrello Law
Pontrello Law | William Pontrello
There is a formula, its complicated, he will get a certain portion in Florida. and the longer you wait the more it will be. consult a qualified divorce attorney.
Answer Applies to: Florida
Replied: 6/17/2011
Joanna Mitchell & Associates, P.A.
Joanna Mitchell & Associates, P.A. | Joanna Mitchell
Only the portion of your retirement that was accrued during the marriage is considered a marital asset subject to division, so not all of your retirement is a marital asset. Therefore, from that perspective, the sooner you divorce the better, as this will minimize the marital portion of your retirement. However, there may be other factors that could effect this determination. Therefore, I would strongly suggest speaking to an experienced family law attorney regarding the potential issues that might arise should you choose to file for divorce. My office offers free initial telephone consultations if you would like to discuss this matter in more detail, as well as explore the potential rights and options available.
Answer Applies to: Florida
Replied: 6/17/2011
Gregory T. Buckley, Attorney at Law
Gregory T. Buckley, Attorney at Law | Gregory T. Buckley
He would be entitled to a portion of the retirement accrued during the marriage. As for the lump sum from the DROP program, that is a bit harder to figure, since the value of it was also accrued prior to the marriage. I am not sure it would matter if you got divorced before or after your retirement.
Answer Applies to: Florida
Replied: 6/16/2011
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