It depends on the plan. When I have a defined benefit plan, I write to the plan. Sometimes I can find the plan documents online which is common nowadays. If I can’t find it online, I will write to the plan because it’s good to have the plan document which is going to tell you […]
Financial Issues
Do divorcing couples need to get a real estate appraiser if they own multiple properties?
It’s something that I like to make the recommendation for rather than having the client go out and pick somebody out of the Yellow Pages. We have a group of real estate appraisers that we frequently work with here at the firm. These are people that are experienced, they’re licensed by the state, and they’re […]
Retirement Funds Acquired During Property Division Without Penalty
Can you access retirement funds without penalty when it comes to divorce and property division? Read on to see what attorney Cynthia Ann Brassington says.
What’s the difference between a defined benefit and a defined contribution pension plan?
A defined contribution plan and a defined benefit plan are different and they can be identified by the wording of them. For example, a defined benefit plan is this: you don’t know what you’re going to be putting in every week. It might 6 percent of your salary, 6.5 percent of your salary, 7 percent […]
What is a Qualified Domestic Relations Order and do family lawyers handle these?
A Qualified Domestic Relations Order is actually the court order that divides up a qualified retirement plan. There are outside services that also prepare QUADROs. Over time we’ve found that often those outside services charge more money than what we charge to do it. It’s not unusual for us to find in the preparation of […]
What’s the difference between an IRA and a qualified pension plan?
Learn the difference between an IRA and a qualified pension plan, so you may know what financial consequences can arise during your divorce.
How does an accountant work with divorce attorneys when clients have multiple properties or businesses?
It depends on which side we’re on. If we have a business owner, typically the business will have an accountant that’s involved in helping the business owner prepare the filings and the scheduling for the business. That accountant is almost always made available to me in my representation of the client. If I represent the […]
What is dissipation in the context of a divorce?
Dissipation is the use of marital assets for a non-marital purpose. Oftentimes during a divorce one spouse will utilize assets for their own benefit for the purpose that does not further anything related to the marriage. Courts are protective of marital assets and do what they can to maintain the integrity of marital assets throughout […]
What should women keep in mind when deciding the fate of the family home?
The marital home can be extremely important to both spouses, often for deep emotional reasons. Where we live is a big part of our identity. For women with children there can be fears about uprooting children from the home and possibly their school and friends as a result. While it’s certainly easier not to move […]
How can a woman get control of the financial issues of their divorce?
If you didn’t normally handle the bills and account statements in your marriage, a good first step toward getting control is to understand what kinds of finances will be involved in your divorce. We have a printable checklist that goes through all of the many financial documents to start gathering – including tax returns, pay […]
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