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QDROs, Taxes, and Asset Issues in Divorce

presented by NBI, Inc.
View the NBI, Inc. Profile and Course Listings

Summary

QDROs, Taxes, and Asset Issues in Divorce

Workshop Description/Agenda

Protect Assets and Minimize Potential Tax Consequences

Divorce can be financially damaging. Tracking down all assets, knowing their value, their tax pitfalls and how to divide them will help your client stay secure after that final decree has been signed. This full-day program will show you how to deal with asset and tax issues in divorce, with a special focus on complex assets like stocks and retirement plans. Get the knowledge and skills you need to protect your client's interests - register today!

  • Ensure everything is accounted for and get tips for uncovering hidden assets.
  • Resolve valuation, vesting and transfer issues when dividing stocks.
  • Learn how to draft QDROs for defined contribution and defined benefit plans.
  • Find out how to divide retirement plans for government employees.
  • Anticipate the tax consequences of transferring or selling assets so your client is not left with the short end of the stick.

Agenda

  1. Locating, Valuing and Dividing Assets
    10:00 - 11:00, Tifanne E.E. Wolter
    1. Marital Property vs. Separate Property
    2. Tracking Down Hidden Assets
    3. Financial Affidavits
    4. Tough-to-Value Assets
  2. Dividing Stock Options in Divorce
    11:15 - 12:00, Tifanne E.E. Wolter
    1. Vested vs. Unvested Options and Vesting Date
    2. ISOs (Incentive Stock Options) vs. NQs (Non-Qualified Stock Options)
    3. Restricted Stock
    4. Valuation Methods and Issues
    5. The Taxable Event
    6. Dividing Stock Options: The Hug Formula vs. the Harrison Formula vs. the Nelson Formula
    7. Transfer Taxes and Reporting Tips
    8. Distributing the Options
    9. Simple Stock Options Hypothetical
  3. Qualified Domestic Relations Orders: General Considerations
    12:00 - 12:30, Sheila M. Donovan
    1. Qualification Requirements
    2. Determination of Plan Type
    3. Freezing Participant's Access to Benefits
  4. Practical QDRO How-tos
    1:00 - 2:00, Sheila M. Donovan
    1. Defined Contribution QDROs
      1. Immediate Lump Sum Distribution
      2. Adjustment of the Award for Market Value Gains/Losses
      3. Valuation Dates
      4. Administrative Fees
      5. Outstanding Loans
      6. Pre-Tax Assets and Marital Portion
      7. Exemption of 10% Federal Early Withdrawal Penalty
    2. Defined Benefit QDROs
      1. Separate Interest vs. Shared Interest
      2. Determination of Marital Portion
      3. Subsidized Benefits
    3. Essential Forms and Calculations
    4. Using QDROs to Collect Child Support
    5. Government Pension Plans
  5. Filing Status of the Divorcing Spouses
    2:00 - 2:30, Todd R. DeVallance
  6. Tax Implications of Assets and Debts Division
    2:45 - 4:00, Todd R. DeVallance
    1. Tax Basis of Assets
    2. Taxation of Business Interests in Divorce
    3. Tax on Sale of the Family Home
    4. Tax of Asset Transfers
    5. Taxation of Support
  7. Legal Ethics
    4:00 - 5:00, Tifanne E.E. Wolter
    1. Attorney Fees and Engagement Agreements
    2. Guarding Confidentiality
    3. Dealing with Client's Financial Misconduct
    4. Conflicts of Interest

Who Should Attend

The course is designed for attorneys. Accountants, tax professionals, and paralegals will also benefit.

Additional Information

Training Provider: NBI, Inc.

Course Topics: Law Training > Divorce

Training Course Summary: QDROs, Taxes, and Asset Issues in Divorce