By Randy S. Margulis | Published May 30, 2023 | Posted in Divorce | Tagged Tags: Former Spouses Protection Act, military pension, retirement pay | Comments Off on Dividing a Military Pension in a New York Divorce
A military pension requires special handling in a divorce. It is different from a normal pension or retirement account, which is a pool of money that the account holder can draw from. A military pension is more accurately called “retired pay,” which is the term used by the Department of Defense. Each year, a retired Read More
Read MoreAn uncontested divorce is always the preferable method of dissolving a marriage, since it is faster, cheaper and generally stress-free. But divorcing spouses might start out in accord only to disagree later on important issues. When that happens, the divorce is converted into a contested one. Most New York divorces are based on no-fault grounds, Read More
Read MoreSpousal maintenance is paid by one spouse to help the other keep up their standard of living after a divorce. It is usually paid in a fixed, recurring amount that continues for a set period of time. A change in the economic circumstances of either ex-spouse may warrant a modification of the payment amount. However, Read More
Read MoreIn New York, marital fault is not typically a factor when dividing property during a divorce. In general, courts carry out an equitable distribution of marital property based on consideration of a number of factors, most of which relate to each spouse’s resources and needs. However, certain types of injurious conduct — such as acts Read More
Read More