by Administrator | Aug 6, 2018 | Personal Divorce, Retirement Plans (QDROs) in Divorce
The benefit received under a defined contribution plan depends on the amount of the participant’s account balance and whether the QDRO has provisions that guard against various events that could occur such as if the market goes down which could erode the remaining...
by Administrator | Aug 6, 2018 | Personal Divorce, Retirement Plans (QDROs) in Divorce
QDROs usually come into play with either a defined benefit plan or a defined contribution plan. Defined benefit plan — A defined benefit plan, by definition, usually provides for lump sum payment to the participant. The plan usually uses an actuarial formula which...
by Administrator | Aug 6, 2018 | Personal Divorce, Retirement Plans (QDROs) in Divorce
In a Qualified Domestic Relations Order there are two common approaches used to split the benefit payments under a defined contribution plan and under a defined benefit plan. They are: Shared payment approach A shared payment approach enables an alternate payee to...
by Administrator | Aug 6, 2018 | Personal Divorce
When Tax Carry forwards exist in the marital estate How do you handle an alternative minimum tax (AMT) carry forward for purposes of your divorce process? Brief definition of AMT tax Years ago the government instituted an alternative minimum tax for people who were...
by Administrator | Aug 6, 2018 | Personal Divorce
Background and context Parents or grandparents who establish 529 plans often forget to establish a successor on the account. Why do you need to establish a successor on a 529 plan? With all of the good that a 529 plan is meant to accomplish, the beneficiary may find...
