In many marriage relationships, one of the partners is the one who primarily handles the finances. When a couple divorces, this can cause the negotiation process to become stalled in emotion as the spouse who is less informed struggles to understand their financial situation. At Hoffman Divorce Strategies, we are financial professionals that attorneys rely on to help the less financially informed … [Read more...] about What are the Responsibilities of a Financial Professional During a Divorce?
Understanding Money and Divorce
How to divide assets and what to do about money is one of the most difficult issues facing divorcing couples. At Hoffman Divorce Strategies, we bring financial professionals to the table who have decades of experience in helping divorcing clients understand the short and long-term impact of financial decisions they make in their divorce settlement today. Financial … [Read more...] about Understanding Money and Divorce
QDROs for Child Support Payments
While many practitioners are aware that a Qualified Domestic Relations Order (QDRO) can divide property, few practitioners are aware that under IRS Code 414 (p) (b), child support can be collected from ERISA plans, (such as 401 k, or Pension plans) with a QDRO. A QDRO distribution that is paid to the child or other dependent of the plan participant is taxable to the participant. Some … [Read more...] about QDROs for Child Support Payments