In many divorce cases, one of the biggest issues is how marital property, including retirement income, should be divided. As such, many couples will develop marital settlement agreements defining their rights and obligations with regard to retirement. If the terms of such agreements are unclear, however, it could create challenges down the road, as demonstrated in a recent Florida divorce action in which the court discussed the construction of marital settlement agreements. If you need help protecting your interests in a divorce proceeding, it is advisable to confer with a Miami divorce attorney.
Factual Background and Procedural Setting
It is reported that in 2001, the husband petitioned for dissolution of marriage from the wife. They subsequently entered into a marital settlement agreement (MSA) to resolve their marital issues, which was incorporated into the Final Judgment of Dissolution of Marriage in 2002. Twenty years later, the wife moved to reopen the dissolution and enforce a provision of the MSA regarding the distribution of retirement benefits.
Allegedly, the disputed provision, labeled “Personal Property,” outlined the distribution of the husband’s retirement benefits from his 457 plan with Pinellas County, Florida, and the Florida Retirement System (FRS) pension. The wife argued that she was entitled to half of all FRS benefits received by the husband, including those accrued after the dissolution, based on the language of the MSA. The husband, however, contended that the provision only entitled the wife to half of the marital portion of the FRS benefits, which included benefits accrued during the marriage. The trial court determined that the language of the MSA was clear but interpreted it to mean that the wife was entitled to half of what the husband had at the time of the agreement. The wife appealed. Continue reading ›
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