What is a Survivor Benefit Plan and does it apply in military divorce?

A Survivor Benefit Plan (SBP) is a financial benefit for surviving spouses and children of deceased military personnel. A SBP is designed to provide financial protection in the event of the death of a service member. In Florida, SBP benefits are considered part of military retirement benefits and may be addressed in a military divorce. In Florida, military retirement pay is considered to be marital property and, as such, is subject to being divided at the time of divorce. The courts will take into consideration the SBP benefits and any other military benefits when distributing marital assets in a divorce. If the service member has an SBP, the court will consider the SBP as part of the overall marital assets when dividing the estate. In a military divorce, the court can either distribute the SBP benefits to the spouse in monthly payments or award the SBP benefits to the surviving spouse as a lump sum. In addition, the court can award a portion of the SBP benefits to the children of the deceased service member, if any. In Florida, SBP benefits can be included in the division of marital assets in a military divorce. It is important that both parties understand the implications of a division of SBP benefits and the implications for the surviving spouse and children of the deceased service member.

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What is a Survivor Benefit Plan and does it apply in military divorce?

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