What is a Survivor Benefit Plan and how does it affect a military divorce?

A Survivor Benefit Plan (SBP) is a benefit available to some U.S. military veterans and their family members. The SBP is designed to provide income to the surviving spouse and/or dependent children of a veteran who passes away, and it can be a critical source of income for them. In Florida, the SBP can be an important consideration in a military divorce. The SBP is a voluntary program that allows military retirees to name beneficiaries who would receive a portion of their military retired pay upon their death. If the beneficiary is the spouse or a dependent child of the retiree, they may be entitled to receive a percentage of the monthly retired pay. This income may help offset some of the costs associated with a military divorce, such as alimony or child support. SBPs can also affect the division of other marital assets in a military divorce. For example, if there is an SBP in place, the court may award the retiree a larger portion of the marital assets to compensate for the loss of the SBP income that their former spouse will receive. Ultimately, the impact of an SBP in a military divorce depends on the specific circumstances of each case. It is important for military spouses who are considering or going through a divorce to understand the implications of the SBP, and to speak to a military family law attorney for advice about how this benefit may affect them.

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What is a Survivor Benefit Plan and how does it affect a military divorce?

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