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January 2017 Archives

401(k) asset division in divorce comes with a price

When getting a divorce, whether in New York or elsewhere, there are some assets that can be easily distributed without any penalties. However, asset division of certain accounts, like a 401(k) for example, can come with a pretty hefty price tag. In order to split retirements accounts a qualified domestic relations order (QDRO) is needed, but the processing fee can be significant.

Asset division can affect other aspects of divorce

Deciding what you want to get out of your divorce proceedings can be difficult. Going in, you may have an idea of what property you want to keep or you may not care as long as you get your fair share. Asset division is one of the hardest parts of the divorce process for couples in New York. Not only is it challenging to decide who gets to keep what, but how things are divided can impact other areas of the final settlement.

Treating divorce like a business transaction

For many couples in New York and elsewhere, the dissolution of marriage is, understandably, an emotionally challenging process. It can be difficult to get through a divorce without one's emotions running at an all time high. However, by taking emotion out of, if at all possible, and treating the process like a business transaction, achieving a fair and balanced settlement may come a little easier.

Law Offices of Eli Yeger
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