Monthly Archives: January 2019

Dividing IRAs in Divorce

Practically every divorce case involves marital assets to be divided between the parties. Of significant concerns are the tax issues involved in these transfers. Under U.S. Code § 1041 - transfers of property between spouses or incident to divorce, are non-taxable events. In order to utilize a “divorce or separation instrument” to divide an IRA, you should be sure that the judgment or settlement agreement includes language that is sufficient to divide the IRA, provides a clear method of division, provides a valuation date as of which the IRA is to be divided, and addressed gains and losses on the...Read More

Top Ten Must Do’s to Prepare For Divorce Settlement Negotiations

There are so many financial and emotional aspects of divorce that have to be balanced that if parties aren’t careful, they can end up in a big mess. As a mediator, cases that settle most smoothly in mediation are those where the parties have done their due diligence and are realistic about settlement. Following these ten tips will help you and your client ensure a more productive mediation to negotiate settlement. Identify the Marital Estate: During the course of the marriage, a couple accumulated assets and liabilities and it must be divided in the divorce. Until your client knows what...Read More