Ensure Your Clients' Financial Future After Divorce
The focus of many financial divorce settlements has shifted from equitable division of generally ample assets to minimizing considerable debts. Many families are still upside-down on their mortgages, with retirement plan values significantly diminished. Are you prepared to tackle these challenges head on? Do you have the knowledge to help your clients maintain financial independence after the divorce is final? This practical seminar will provide you with strategies for dealing with tax, appraisal and distribution considerations when negotiating and drafting a marital settlement agreement. Don't miss this chance to hone your skills – register today!
- Ensure equitable division of both debts and assets in divorce.
- Help your clients effectively manage premature distributions and maintenance liabilities.
- Use practical techniques to help clients brace for the immediate and future tax impact of divorce.
- Review current types of retirement assets and gain tips for effective drafting and implementation of QDROs for each.
- Protect your client from unnecessary pension division.
- Avoid allegations of malpractice by knowing the risks when dividing retirement assets.
- Include intangible and hidden assets in the settlement - we'll show you how to find them.
- Knowledgeably advise on the extent of liability for debts of a spouse.
- Protect your client's rights when bankruptcy enters the picture.
- Gain practical case selection strategies to minimize your financial risks from the start.
- Discover what to include in the engagement agreement to protect both parties and ensure future payment.
- Find out what the rules say about legal fee determination and how your esteemed colleagues apply them.
- Dividing Retirement Assets
8:30 - 10:00, Wendy Drefahl
- Types of Retirement Plans
- Defined Contribution
- Defined Benefit
- Municipal/Public Employee Plans
- Military Pensions and Federal Retirement Plans
- QDROs and Other Resolutions for Different Types of Retirement Plans
- Defining and Determining the "Marital Portion"
- Using Retirement Accounts to Cover Maintenance and Child Support Obligations
- Malpractice Risks in Allocating Retirement Accounts in a Divorce
- Finding, Valuing and Dividing Other Assets and Debts
10:15 - 11:30, Bruce L. Richman
- Health Care Benefits (e.g. COBRA)
- Offshore Assets
- Cash Businesses
- Valuing Business Interests – Reading and Analyzing a Business Valuation Report
- Valuing and Dividing Goodwill
- Dealing with Sudden Changes in Assets' Value
- Hidden Debts and Creditors
- Mortgage and Credit Treatment in Divorce
11:30 - 12:10, Bruce L. Richman
- Assessing Current Financial Situation
- Budgeting and Sources of Income
- Bankruptcy in Divorce
1:10 - 2:25, C. John Ruddy
- Who Files and When
- Chapter 7 or Chapter 13? The Means Test
- The Bankruptcy Estate and Its Limitations
- Priority and Dischargeability of Debts
- Fraudulent Conveyances
- The Impact on Spouse not Filing Bankruptcy
- Application of the Automatic Stay
- Tax Treatment and Consequences of Divorce
2:25 - 3:25, David N. Schaffer
- Filing Status
- Tax Basis of Assets
- Tax-Free Asset Transfers
- Innocent Spouse Relief
- Maintenance Liabilities
- General Division of Assets – Section 1041
- Marital Residence
- Stock Options
- Pension Plans
- Miscellaneous Tax Issues
- Tax Consequences of Premature Distributions
3:40 - 4:40, Tanya Witt
- Rules of Professional Conduct
- Conflicts of Interest
- Confidentiality and Disclosure Issues
- Attorney Fees
- Client Screening
- Engagement Agreements
- Billing Systems
- Collections Strategies
- Fee Disputes
This timely basic-to-intermediate level course will focus on financial aspects of divorce and will benefit:
- Financial Divorce Specialists
- Financial Planners