Topics in the paperback/e-book include explanations of:
• What retirement plan assets include, how they're shared, what they're worth to each party, how they're valued, and how they're divided
• Property Settlement Agreement (PSA) documents, Domestic Relations Orders (DRO), and Qualified Domestic Relations Orders (QDRO) and how they're applicable to retirement plan sharing
• The tracing method, the subtraction method, and the coverture method, and how they figure in the calculation of potential claims and shares of retirement plan accounts
• Actuarial assumptions and how they're used
• The pros and cons of utilizing the Stream of Payments and Separate Interest methods
• Who pays taxes on shared benefits and accounts
• States that have specific laws about DROs
• Special considerations for disability or life insurance benefits that are funded in retirement plans "When it comes to the division of pension and retirement plan assets in divorce negotiations, what you don't know can be financially devastating for you and your children," says Phillips. "Whether you're trying to protect your assets or gain access to spousal or partner assets that you believe you're entitled to, DIVIDING RETIREMENT PLAN ASSETS IN A DIVORCE is invaluable reading for anyone who's either considering getting divorced or is in divorce proceedings."
Phillips has been assisting divorcing parties and their advisors in connection with dividing retirement plan assets for more than 25 years. He's seen people who didn't know that retirement plan assets were part of the marital estate lose all of their share. He's also seen people who selected a method of retirement plan division - but didn't check out all of their options - lose as much as one quarter to one third of the share that they were entitled to and should have received.
"With respect to retirement plan benefit/account sharing, there will be times where the sharing process has been implemented and cannot be changed," says Phillips. "Also, it's highly unlikely that a court would be receptive to alter a method that has been agreed to by the harmed party. This makes it imperative for people to know all of their options before they begin negotiating a divorce settlement."
"DIVIDING RETIREMENT PLAN ASSETS IN A DIVORCE allows divorce attorneys to educate their clients with concise, comprehensive information," continues Phillips. "It also gives divorcing parties valuable guidance which would lead them to ask their advisors 'Did you know about the 'xyz' method for the division of our retirement plan assets?' In both situations, divorcing parties will be better informed about their options, empowered with vital knowledge, and better off financially when a Final Judgment of Divorce has been documented."
DIVIDING RETIREMENT PLAN ASSETS IN A DIVORCE is available in paperback and Kindle version on
Read the full story at http://www.prweb.com/releases/2014-divorce-pension/05-division-of-assets/prweb11834794.htm
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