This is probably one of the most common mistakes in settlement agreements and even final judgments, since often times attorneys prepare the final judgment which the judge simply signs. It often erroneously states “retirement plan” without ever defining the type of plan(s) to be divided. Retirement plans can be defined contribution plans, defined benefit plans or some type of hybrid. …
2016 Changes to Social Security for Divorced People
2016 has arrived, and for the tens of millions of Americans who receive Social Security benefits, the New Year is a good time to review what they can expect from the program over the coming year. While there are changes every year, 2016 has some unusual changes that you need to know about if social security is part of your …
How Are QDRO Distributions Taxed?
It is said that the only sure things in life are death and taxes. There is no doubt that the Internal Revenue Service wants their share of any income received by US taxpayers, and distributions from Qualified Domestic Relations Orders (QDROs) are no exception. Whether paid by the plan participant or an alternate payee, taxes are an inescapable part of …
40 Secrets Only Divorce Attorneys Know
The Divorce process is a stressful process that can easily bring out the worst in people. Some people even see divorce as a way to seek revenge on a spouse by seizing money and assets. Although divorce can get you out of an unhappy marriage, it can also milk you for all you are worth if you don’t know your …
Money Tips for You After Divorce Settlement
Tips for Financial Security After Divorce Settlement Meet with an Lawyer Even if you’re hoping for a simple divorce, you can still benefit significantly from consulting an attorney who specializes in divorce law. A lawyer can be objective, advising you of your rights, obligations and options and walking you through issues surrounding alimony, child custody and a divorce settlement. During this emotional …
Social Security Benefits After A Divorce
SOCIAL SECURITY AND DIVORCE Marriage is a legal institution with a big impact on your finances, your retirement, and particularly your Social Security. How are your Social Security benefits determined after divorce? Here are some “must-knows” as you consider marriage or divorce. Marriage: The good news On the plus side, anyone who’s married has access to Social Security spousal payments …