Because divorce can significantly impact your future, knowing which benefits are rightfully yours can help you minimize financial loss. If your spouse served in the military, you may wonder what the outcome will be for the benefits accumulated during service.
Understanding the 20/20/20 rule may help you determine the fairness of your settlement and more confidently prepare for your future.
Time served impacts benefits received
The number of years your spouse served in the military has a lot to do with determining your eligibility to claim some of the benefits. According to Military.com, to receive partial benefits, you must meet all three criteria of the 20/20/20 rule which include the following:
- Your marriage lasted a minimum of 20 years
- Your spouse served in the military for a minimum of 20 years
- Your spouse’s military service and your marriage to your spouse overlapped by 20 years
Alternate solutions for lost benefits
Hearing that your situation does not meet the criteria to partake in military benefits can bring feelings of doubt and uncertainty. However, not having access to military benefits does not mean your settlement will not include any spousal support at all. Depending on your situation and your role in your marriage, the courts may require your spouse to pay you alimony.
As you begin to rebuild your financial independence, consider the community resources available to you. You may have access to instructional courses on topics such as budgeting and saving your money. Make thoughtful financial decisions and make sure you know where your money is coming from and where it is going.