How does SBP work in divorce?
How does SBP work in divorce?
Many beneficiaries are spouses of former military members. However, a spouse loses eligibility as an SBP beneficiary upon divorce. The retiree must apply for this change of status (from spouse to former spouse) within one year of the divorce. The spouse may also request SBP coverage in a divorce action.
When does a divorce order require SBP coverage?
If the court order requires SBP coverage, you must, says DFAS, “declare your intentions to claim Former Spouse SBP coverage in writing within one year of the date of divorce.” Death of a spouse ends benefits for that spouse. If you paid premiums into the program after the death, those premiums are refunded to you. The SBP and Remarriage
How to file a survivor benefit plan ( SBP )?
If the veteran is divorced after retirement, the former spouse who was covered as a spouse can continue to be covered by filing DD Form 2656-1, “Survivor Benefit Plan (SBP) Election Statement for Former Spouse Coverage.” DD Form 2656-6 is available at https://www.esd.whs.mil/DD/.
How are SBP costs divided in Colorado divorce?
That’s legalese for saying that a Colorado divorce court has the authority to (and almost always does) order the servicemember to pay some or all of the SBP costs, even though only the former spouse benefits from the SBP. In El Paso County, family law judges typically order the spouses to divide the SBP premium costs equally.
When does a spouse become a beneficiary of a SBP?
Spouse / Former Spouse SBP Coverage Pursuant to 10 U.S.C. § 1447 (7,8), a retiree may elect his/her spouse or former spouse as beneficiary, as long as they: Were married at the time the member became eligible for retired pay, Were married at least one year at the time of the retiree’s death, or
If the court order requires SBP coverage, you must, says DFAS, “declare your intentions to claim Former Spouse SBP coverage in writing within one year of the date of divorce.” Death of a spouse ends benefits for that spouse. If you paid premiums into the program after the death, those premiums are refunded to you. The SBP and Remarriage
How to file a divorce and Survivor Benefit Plan?
The retiree must complete DD Form 2656-1 (Survivor Benefit Plan Election Statement for Former Spouse Coverage) and submit the completed form as well as a copy of their divorce decree and settlement agreement to DFAS within one year of the court order.
If the veteran is divorced after retirement, the former spouse who was covered as a spouse can continue to be covered by filing DD Form 2656-1, “Survivor Benefit Plan (SBP) Election Statement for Former Spouse Coverage.” DD Form 2656-6 is available at https://www.esd.whs.mil/DD/.
That’s legalese for saying that a Colorado divorce court has the authority to (and almost always does) order the servicemember to pay some or all of the SBP costs, even though only the former spouse benefits from the SBP. In El Paso County, family law judges typically order the spouses to divide the SBP premium costs equally.