Financial Consultation Services for Family Law Attorneys
- Pension Valuation
- Preparation of Financial Affidavit
- Separate Property Tracing
- Lifestyle Analysis
- Executive Compensation Valuation
- 401(k) Community Property Valuation
- Maintenance Buyout Calculations
- QDRO Facilitation
- Financial Forensics
Below you will find service descriptions and links to book/submit your paperwork for these services.
For many married couples, a pension or defined benefit retirement plan is one of the largest marital assets. The value of a defined benefit is determined by evaluating the present value of future cash flows. In other words, the calculation is the value of future pension payments in today’s dollars. In the case of valuing for divorce, the portion of the pension that was earned during the marriage is calculated.
In some cases, the value of the pension is used when negotiating the division of assets. If one party keeps their pension, they might give up another asset to offset it. Alternatively, the parties may do a “deferred division” when each party receives a share of the pension benefit when it’s paid.
Submit a pension request form. All reports are provided within 5-7 business days once payment is made and all information is provided.
If you did not earn social security, while you were earning your pension, consider a social security offset report. The cost is $125.
Submit documents here or via email to firstname.lastname@example.org.
Can’t I just find the value on my annual pension benefits statement?
The simple answer is no. Generally, pension plans issue individual benefit statements once a year to each of the participants. If there is an accrued value found on the statement, that does not represent the present value of future cash flows, which is how a pension is valued. It represents the money that was paid into the plan. While you build your pension through service credits, a dollar amount is being accrued, which is what shows on the statement.
The pension plan is designed to be a retirement income plan so that employees continue to receive income after retiring. While there are often several pension benefits, the primary benefit is the income to be paid when an employee retires. Because the main benefit is the future income generated from the plan, that is what is used to calculate the value of the plan.
Select your Pension Service here
Social Security Offset Report
Pension Valuation Rush Request
QDRO Facilitation Service
What is a QDRO?
A Qualified Domestic Relations Order (QDRO) is a legal document that is required to split an ERISA qualified plan as part of a divorce settlement. Qualified plans include: 401(k), 403(b), 457, pension, profit sharing plans, etc. Every plan has its own requirements. Depending on the plan, the document may not even be called a QDRO but they are generically referred to that way. It’s important that when you have one prepared, it is sent to the plan for pre-approval to ensure that it meets all of the requirements. Do this before you send it to the judge or you risk having it rejected by the plan and having to start over with more expense.
We facilitate QDRO preparation in conjunction with an attorney specializing in QDROs. This a national service and the flat fee for this service is $595. Submit the forms below to begin the process.
Common QDRO-Related Mistakes to Avoid
The two most common mistakes that I see time and again are:
- Not having the document drafted prior to the final court appearance
- Not filing the document with the plan administrator right away after it's approved by the court
These mistakes are simple enough to avoid. As soon as you know you will need one, get one drafted. Once the document is approved by the court, file it with the plan administrator. The follow through on this is really important.
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