Did you recently complete a divorce in Arizona, Florida, or Texas but you or your spouse earned a pension benefit from the state of Illinois? If you or your ex-spouse participated in an Illinois State Pension like TRS, IMRF, PABF, FABF, SURS, SERS, JRS or any other...
Benefit Assignment
Why Offsetting Pensions in Divorce Might Not Be the Unicorn Solution You Are Hoping For…Using Present Value of a Future Pension as an Offset for a Current Marital Asset in Divorce
Our firm is often approached by parties and counsel to determine the present value of a future pension. The goal being to assign an exact dollar amount to a future payout in order to offset an asset currently held in the marital estate. Red flags immediately are...
Mitigating Risk for Your Client in a Volatile Market
Navigating property division during a divorce can be an emotional and exhausting journey. At times, spouses find it easier to simply split marital property equally, 50/50 not knowing that other division options may be available. Both parties are ready to close one...
IRA Assignments in Divorce
Often when you get divorced Individual Retirement Accounts (IRAs) can be one your most important assets both emotionally and financially. Unfortunately, it is common for these assets to be divided at the last minute in settlement, and in doing so attorneys can omit...