Military Divorce: The 20-20-20 Rule

Tim — Mon, 15 Dec 2008 17:45:06 +0000

I have written before concerning the increase of divorces among the armed forces. Among the assets that raise the most concern in a military divorce is the benefits of a military retirement.

So, how do you know if you will be eligible to receive some of your spouse’s benefits if you divorce him/her? You follow what’s called the 20-20-20 Rule. An excellent discussion of the rule is found at Christine Bauer’s Florida Divorce & Family Law Blog. To quote Christine, “If you have been married for 20 years, your spouse has been in the military for at least 20 years, and you have 20 years of marriage overlapping your 20 years of marriage, then you are entitled to the same benefits as your soon to be ex-spouse.”

There is also a 20-20-15 rule, and I invite you to check out Christine’s site to learn more about it.

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Easy Reader’s Divorce is Costing Him

Tim — Fri, 05 Dec 2008 18:54:36 +0000

As the song goes, “You can’t buy me love.” Apparently, though, divorce will cost you—at least if you’re Morgan Freeman. (Ok, so this is more North Mississippi, since Freeman’s from Charleston, Mississippi, but work with me.)

The actor, whose net worth some estimates place in excess of $300 million, will give Myrna, his soon-to-be ex-wife, around $100 million as part of their divorce settlement.

Some of the assets that Myrna will receive include:

A $7 million home the couple shared in the Virgin Islands
A $5 million home in Alabama
And a $10 million Manhattan apartment

Morgan will likely keep the Mississippi home (worth about $5 million) and their Los Angeles apartment.

While the couple’s plans to divorce was just announced this past August, Morgan and Myrna had been separated since December 2007. Wonder if he was paying separate maintenance?

For those who don’t get the title of this post, Morgan Freeman played “Easy Reader” on “The Electric Company” long before he was driving Miss Daisy.

Divorce in the Armed Forces The Associated Press reports today that the divorce rate has...
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Hattiesburg Divorce Lawyer » property settlement

Military Divorce: The 20-20-20 Rule

Easy Reader’s Divorce is Costing Him