Easily Delete Dropdown List in the Divorce Settlement Agreement

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How to Delete Dropdown List in the Divorce Settlement Agreement

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good afternoon im attorney lee pearlman i want to talk to my family law friends and colleagues about how to bankruptcy proof your divorce settlement right now first let me lay a little groundwork for everyone bankruptcy code section 523 a15 i know i promise this will be the only bankruptcy code section i cite in this video simply provides that debts incurred during the course of divorce are non-dischargeable in chapter 7 and 11. but a chapter 13 is different a chapter 13 bankruptcy is more expansive so it can discharge any non-support obligations associated with divorce unlike 7 and 11. family lawyers are most at risk when they are drafting marital settlement agreements we see it all the time or court judgments that direct one spouse to pay or indemnify another spouse in the future the spouse assigning the obligation or what we say as doing the directing thats the creditor spouse this is the spouse who needs to be cautious and careful some examples of clauses that could be subject to

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Got questions?

Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

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How do I avoid paying taxes on divorce settlement?

Under Section 1041(a), the IRS doesnt require taxes when property transfers between former spouses if that transfer occurs incident to the divorce. Any transfer of property is assumed to be incident to the divorce so long as its either called for in the divorce settlement itself or if it occurs within one year of

Does having a new partner affect divorce settlement?

It can be tempting to move in with a new partner before a divorce is finalized for companionship or financial reasons, but it is not recommended in most cases. Cohabitating with a new partner can affect child custody, property division, and alimony payments.

Is money received in a divorce settlement taxable?

If you agree to pay or receive a lump sum of property in the divorce rather than a smaller monthly payment structure, you will have to pay taxes on that payment. Of course, check with a financial planner, accountant, or another tax professional on this before you make any decisions moving forward.

Can ex wife claim my pension years after divorce in NJ?

Yes, an ex-spouse is typically entitled to a portion of their ex-husbands pension. This is true even if the ex-spouse was not listed as a participant in the pension plan. However, it is important to note that an ex-spouse will only receive a portion of the pension payments and not a lump sum buyout.

Can I transfer my 401k to my spouse?

No, spouses cannot combine retirement accounts. However, a spouse can be named as a beneficiary of your account, which can be rolled into their own IRA in the event of your death.

How do I withdraw money from my 401k?

By age 59.5 (and in some cases, age 55), you will be eligible to begin withdrawing money from your 401(k) without having to pay a penalty tax. Youll simply need to contact your plan administrator or log into your account online and request a withdrawal.

Can ex wife claim my 401k years after divorce?

After the divorce is over, your spouse will not have the ability to come back and try to get more of your pension plan for herself. All contributions and the value of the goal after your divorce has concluded will be a part of your separate estate, and your spouse would have no ability to claim that value as her own.

Will I lose my ex husbands pension if I remarry?

Under most circumstances, a remarriage will not change how or if an ex-spouse continues to receive a portion of the military pension. Generally speaking, a pension will end only if the service member dies.

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Delete Dropdown List in the Divorce Settlement Agreement