One overlooked source of money has to do with insurance. Many military members, including Guard and Reserve, choose USAA for their insurance needs. A little known fact about USAA is that members have a Subscriber's Account (formerly called a "Subscriber Savings Account") which contains monies contributed through premiums for property and casualty insurance (such as car insurance) and distributed from time to time to the subscribers. These periodic distributions amount to a refund of money not needed for operating reserves and they come as a credit on the quarterly or yearly premium, thus saving money for the customer. If one of the parties will be retaining USAA membership and benefits, including the balance in the Subscriber's Account, then it makes sense to ask how much is in the Account and allocate the sum to that party, even though it is money which can't be spent at present.
In a military divorce case, the nonmilitary spouse will often be concerned about pension share payments and taxes. She will invariably want to receive pension division payments direct from the retired pay center.
Even if a domestic violence case is initiated by civilian authorities and disposed of in a civilian state court, the servicemember still can suffer potentially severe military consequences depending on the outcome and the direction of the proceedings.
Even with a short marriage of say, five years, the pension share is worth something. Don't waive it without getting a trade.
Military parents face many unique complications and challenges, beyond those of non-military families. One matter that requires special attention is child visitation, which can be disrupted by deployments to other states or overseas.
Congress enacted the Uniformed Services Former Spouses' Protection Act (USFSPA), allowing the division of military retirement pay in a divorce, but specifically prohibiting the division of VA disability pay.
A military spouse is entitled to varying degrees of continuing healthcare coverage, depending on whether they meet certain criteria.
Upon death, the service member's right to receive retirement pay terminates. The Survivor Benefit Plan (SBP) is an annuity program that allows retired or retirement-eligible active duty service members to provide continued income to specified beneficiaries at the time of the participant's death.
One asset in military divorce that is becoming a more frequent topic of discussion is the member spouse's benefits under the Post 9/11 GI Bill. This program provides up to 36 months of educational benefits, which may be used up to 15 years after the service member's discharge from active duty. If the service member meets the service requirements, this benefit may be transferred to a service member's spouse or children.
Everyone knows that a divorce typically involves dividing your marital assets. In a military divorce those assets frequently include the service member's military benefits, such as the right to military retirement pay and healthcare for the children.