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What You Need to Know About QDROs

Monday, March 31st, 2014 and is filed under Divorce - Blog Category, Uncategorized

what-is-a-qdroOne of the reasons people place retirement funds into qualified retirement plans such as an IRA account is that the funds are set aside pre tax. When you’re going through a divorce, these retirement assets will need to be divided, and you’ll want to make sure that a QDRO is included in the agreement to handle these previously untaxed assets. If you divide a retirement account such as an IRA without a qualified domestic relations order, it can be subject now to taxes and even penalties. Read More

What Does a Certified Divorce Financial Analyst Do?

Thursday, March 27th, 2014 and is filed under Divorce - Blog Category, Uncategorized

certified-divorce-financial-analystIf you’re preparing to divorce, you probably know that you will need an experienced divorce attorney to help you navigate the process. But did you know that you should also enlist the help of a Certified Divorce Financial Analyst? The Certified Divorce Financial Analyst will work closely with your attorney to make sure that the proper asset division strategies are in place and help you get the most out of your divorce settlement. Read More

Valuing Specific Assets in Divorce

Wednesday, March 26th, 2014 and is filed under Divorce - Blog Category, Uncategorized

valuing-assets-in-divorceWhen you’re going through a divorce, you may be dividing a variety of different assets. Each will need to be properly valued to come to a final settlement. Specific assets may be valued differently. Here’s some information on the valuing of specific assets during divorce.

Valuing the Home in Divorce

If you or your spouse do not wish to sell the home and are negotiating an agreement out of court, you can use whatever value determination you both agree is fair. This can be fair market value, original purchase price, or the amount it would take to pay off the mortgage. In court, the judge will likely use current real estate appraisals of the property to determine value. A real estate appraiser will be used as the expert to determine the value, and each party can hire their own appraiser if they wish. Because there are various approaches that appraisers might use to determine value, you’ll want to have an appraiser on your side if you’re arguing your case before a judge. Read More

Business Assets and Divorce

Tuesday, March 25th, 2014 and is filed under Divorce - Blog Category, Uncategorized

business-assets-and-divorceIf you want to make sure that you receive everything to which you’re entitled, you’ll want to learn about business assets and divorce.

A business is treated like any other asset during a divorce. That means that the rules related to community property apply. It also means that you may have the right to a portion of the profits from the business as part of the divorce settlement, even if you haven’t played a role in the creation or running of the business. There are also ways in which you might be entitled to the profits of a business that was started or acquired prior to the marriage. Read More

Finding Hidden Assets During Divorce

Wednesday, March 5th, 2014 and is filed under Divorce - Blog Category

No one wants to believe their spouse would willfully hide assets before or during a divorce, but it happens. In a community property state such as Texas, you’ll want to get a full and clear picture of all the marital assets to ensure an equitable settlement. If your spouse was the one who handled the finances during the marriage, you may be especially in the dark about the state of your assets.

Fortunately, there are ways to find hidden assets to make sure that you’re getting everything to which you’re entitled. Read More

Dealing with Debt During Divorce

Monday, March 3rd, 2014 and is filed under Divorce - Blog Category

If you are approaching a divorce and wondering what your financial state will look like once the process is over, you are likely to be curious about the division of debts during divorce. Just like assets, debts that are incurred during the marriage are considered community property debt. Debts incurred previous to the marriage are considered separate property debt. It’s important to learn the facts about debts during divorce to make sure you and your credit rating are protected. Read More