Thursday, December 31, 2015
Monday, December 28, 2015
Key Mistakes in QDROs
Qualified domestic relations orders involve great detail and thorough execution and any kind of small mistake can undo their purpose. Some of the most common issues involve misunderstanding a type of plan, not designating the exact name of the plan, and trying to divide a plan that cannot be divided. As it relates to misunderstanding the type of plan, a defined contribution plan is different from a defined benefit plan, and these are both different from what's known as a hybrid plan. The need to designate the exact name of the retirement plan is essential. Instruction in a divorce settlement to divide the husband's plan using those exact terms neglects the determination of plans under different employers, for example, and this can result in division being made of only one plan whereas six more intended. The final most common error in qualified domestic relations orders has to do with trying to divide what cannot be divided. You need to determine if the respective plan is or is not covered under government regulations known as ERISA. Certain high level executive golden parachute plans, for example, are specifically designed to allow a split. Others may be barred from being divided. Having a thorough accounting of all possible retirement plans and understanding what can and cannot be divided is essential during this process. Make sure you hire a qualified domestic relations order expert who can advise you about the importance of the details in the actual order itself. It is imperative that the correct information be recorded in the QDRO from start to finish. This is why you should first hire a qualified domestic relations order expert who can review your materials and help you understand how to avoid some of the common stumbling blocks. Do not hesitate to get help as soon as possible.
https://www.qdronow.com/qdroblog/entry/some-of-the-most-key-mistakes-in-qualified-domestic-relations-orders
Sunday, December 27, 2015
Thursday, December 24, 2015
Wednesday, December 23, 2015
Sunday, December 20, 2015
Saturday, December 19, 2015
Wednesday, December 16, 2015
Tuesday, December 15, 2015
Monday, December 14, 2015
Sunday, December 13, 2015
Tuesday, December 8, 2015
Monday, December 7, 2015
Saturday, December 5, 2015
The Jax Mediator: How Much Is My Business Worth? - Hetsler Mediation...
The Jax Mediator: How Much Is My Business Worth? - Hetsler Mediation...: How Much Is My Business Worth? - Hetsler Mediation
Thursday, December 3, 2015
Wednesday, December 2, 2015
Differences in the Roles of Forensic Accountant - Hetsler Mediation & Valuation Firm - Blog
Differences in the Roles of Forensic Accountant - Hetsler Mediation & Valuation Firm - Blog
If you are engaged as a Forensic Accountant almost every
engagement you accept will end up having a different set of objectives and
goals several times throughout the process.
As a Forensic Accountant, you truly have be ready to really adapt to
each and every situation as you are confronted with it
engagement you accept will end up having a different set of objectives and
goals several times throughout the process.
As a Forensic Accountant, you truly have be ready to really adapt to
each and every situation as you are confronted with it
Tuesday, December 1, 2015
Monday, November 30, 2015
Key Things to Know About Key 1031 Exchanges -
Key Things to Know About Key 1031 Exchanges -
1031
exchange, qualified intermediary, 1031 qualified intermediary, qualified
intermediary companies, qualified intermediary company, exchange accomodator,
Delaware statutory trust, DST, exchange replacement property, exchange
intermediary, intermediary for 1031 exchange, like kind exchange, section 1031
exchange intermediary, section 1031 exchange intermediaries, list of qualified
intermediaries, section 1031 exchange intermediary company
exchange, qualified intermediary, 1031 qualified intermediary, qualified
intermediary companies, qualified intermediary company, exchange accomodator,
Delaware statutory trust, DST, exchange replacement property, exchange
intermediary, intermediary for 1031 exchange, like kind exchange, section 1031
exchange intermediary, section 1031 exchange intermediaries, list of qualified
intermediaries, section 1031 exchange intermediary company
Sunday, November 29, 2015
The Evolution of 1031 Exchanges -
The Evolution of 1031 Exchanges -
1031 Exchanges, Qualified Intermediary, qualified
intermediary company, 1031 Qualified Intermediary, qualified intermediary
companies, exchange accomodator, Qualified Intermediary Experts, Real Estate
Exchange, Like Kind Exchange, Like Kind Exchange intermediary
intermediary company, 1031 Qualified Intermediary, qualified intermediary
companies, exchange accomodator, Qualified Intermediary Experts, Real Estate
Exchange, Like Kind Exchange, Like Kind Exchange intermediary
What Does a Qualified Intermediary Do? -
What Does a Qualified Intermediary Do? -
1031 Exchanges, Qualified Intermediary, qualified intermediary company, 1031 Qualified Intermediary, qualified intermediary companies, exchange accomodator, Qualified Intermediary Experts, Real Estate Exchange, Like Kind Exchange, Like Kind Exchange intermediary
1031 Exchanges, Qualified Intermediary, qualified intermediary company, 1031 Qualified Intermediary, qualified intermediary companies, exchange accomodator, Qualified Intermediary Experts, Real Estate Exchange, Like Kind Exchange, Like Kind Exchange intermediary
Saturday, November 28, 2015
Monday, November 23, 2015
How to Buy Like Kind Exchange Property -
How to Buy Like Kind Exchange Property -
Addresses key requirements to locate and identify a 1031 exchange real estate exchange properties that meets the requirements to comply with a 1031 exchange and how a qualified intermediary plays a key role.
Addresses key requirements to locate and identify a 1031 exchange real estate exchange properties that meets the requirements to comply with a 1031 exchange and how a qualified intermediary plays a key role.
Saturday, November 21, 2015
Tips for Dividing Retirement Accounts in a Divorce - Retirement Division, Forensic Accounting and Business Valuation Blog
Tips for Dividing Retirement Accounts in a Divorce - Retirement Division, Forensic Accounting and Business Valuation Blog
In order to divide a qualified retirement account in a
divorce, you will require a special order to facilitate the division called a
Qualified Domestic Relations Order commonly referred to as a
"QDRO". There are very limited
exceptions to this requirement and the most common exception is an IRA as that
is not a qualified plan and does not require a QDRO, although in rare
circumstances the plan does require them.
However, if you pin them down, the Plan Administrators are never able to
provide a legal reason they are require one and it is always about them wanting
extra protection if they feel the final judgment of divorce is ambiguous. The good news for the "real"
qualified plans is that under ERISA you are afforded a onetime exception for
the spouse receiving the proceeds (referred to as the Alternate Payee) in that
you can withdraw all or some of the proceeds simultaneously with the entry of
the QDRO and not be subjected to the traditional 10% early withdrawal penalty
if you are under 59 1/2. Keep in mind
that if you are the Alternate Payee receiving the money from the other spouses
account (referred to as the Participant) and your plan is to either add it to
an existing IRA or open up a new IRA for the funds coming in, please make sure
to utilize an adviser to whom has a fiduciary duty to you and his/her interest
is truly your interest. Quite honestly,
after having prepared literally thousands of these for the past 12 years and
having been asked almost every day of my life for the past 12 year for a referral
to a financial adviser, it is only recently that I have identified a
team/company, with offices across the nation that I FINALLY feel comfortable
referring to a team of advisers because, I am have been fortunate enough to
witness their work first hand, watch the lengths to which they will explain all
options to their clients and the respect those show towards their clients. Having said that, whether you are just
starting out or not satisfied with your current adviser or simply desiring to
follow that national trend of "Before Divorcing your Spouse,
consider Divorcing your Financial Adviser” (Great Article and Movie by the
way) please let me know because, at no additional cost to you, I am happy to
connect you with someone to manage your money in or out of a retirement account
and you are looking for someone with experience, I would be happy facilitate
the introduction. Either call
844-234-7376 or email me Robert@qdronow.com.
divorce, you will require a special order to facilitate the division called a
Qualified Domestic Relations Order commonly referred to as a
"QDRO". There are very limited
exceptions to this requirement and the most common exception is an IRA as that
is not a qualified plan and does not require a QDRO, although in rare
circumstances the plan does require them.
However, if you pin them down, the Plan Administrators are never able to
provide a legal reason they are require one and it is always about them wanting
extra protection if they feel the final judgment of divorce is ambiguous. The good news for the "real"
qualified plans is that under ERISA you are afforded a onetime exception for
the spouse receiving the proceeds (referred to as the Alternate Payee) in that
you can withdraw all or some of the proceeds simultaneously with the entry of
the QDRO and not be subjected to the traditional 10% early withdrawal penalty
if you are under 59 1/2. Keep in mind
that if you are the Alternate Payee receiving the money from the other spouses
account (referred to as the Participant) and your plan is to either add it to
an existing IRA or open up a new IRA for the funds coming in, please make sure
to utilize an adviser to whom has a fiduciary duty to you and his/her interest
is truly your interest. Quite honestly,
after having prepared literally thousands of these for the past 12 years and
having been asked almost every day of my life for the past 12 year for a referral
to a financial adviser, it is only recently that I have identified a
team/company, with offices across the nation that I FINALLY feel comfortable
referring to a team of advisers because, I am have been fortunate enough to
witness their work first hand, watch the lengths to which they will explain all
options to their clients and the respect those show towards their clients. Having said that, whether you are just
starting out or not satisfied with your current adviser or simply desiring to
follow that national trend of "Before Divorcing your Spouse,
consider Divorcing your Financial Adviser” (Great Article and Movie by the
way) please let me know because, at no additional cost to you, I am happy to
connect you with someone to manage your money in or out of a retirement account
and you are looking for someone with experience, I would be happy facilitate
the introduction. Either call
844-234-7376 or email me Robert@qdronow.com.
Tuesday, November 17, 2015
Monday, November 16, 2015
Sunday, November 15, 2015
Friday, November 13, 2015
Key Considerations for 1031 Exchanges and Same Taxpayer Requirements -
Key Considerations for 1031 Exchanges and Same Taxpayer Requirements - Tax-free exchanges are a critical component to any long term real estate investor. It offers many opportunities to expand their portfolio over the investing years without having to pay the federal or state government taxes on their gains or depreciation recapture taxes which can vary from state to state significantly.
Any Real Estate Investor typically already has its hands full just understanding in implementing their existing real estate investment plan and portfolio. As such, they often lacks the specific knowledge required to properly implement a 1031 exchange. The key, for any real estate investor, is to act early and seek the guidance of a qualified intermediary, who often, is very well-connected with other professionals that may or may not be required for the specific transaction. Depending on the level of complexity it may be that the qualified intermediary is the only person required to be involved or it may be that a tax attorney and CPA should also be involved in the 1031 exchange process.
Finally, speaking with a qualified intermediary, who is intimately familiar with the process, well experienced, and properly bonded and insured ( preferably a licensed CPA or licensed attorney), can save significant headaches down the road, not to mention taxes!
Any Real Estate Investor typically already has its hands full just understanding in implementing their existing real estate investment plan and portfolio. As such, they often lacks the specific knowledge required to properly implement a 1031 exchange. The key, for any real estate investor, is to act early and seek the guidance of a qualified intermediary, who often, is very well-connected with other professionals that may or may not be required for the specific transaction. Depending on the level of complexity it may be that the qualified intermediary is the only person required to be involved or it may be that a tax attorney and CPA should also be involved in the 1031 exchange process.
Finally, speaking with a qualified intermediary, who is intimately familiar with the process, well experienced, and properly bonded and insured ( preferably a licensed CPA or licensed attorney), can save significant headaches down the road, not to mention taxes!
Wednesday, November 11, 2015
Monday, November 9, 2015
The Problem with Goodwill in 1031 Exchanges -
The Problem with Goodwill in 1031 Exchanges -
The issue of goodwill comes up a lot in 1031 exchanges. The key to overcoming these issues is retaining a well respected and knowledgeable qualified intermediary company who can guide you through the process and avoid any potential pitfalls
The issue of goodwill comes up a lot in 1031 exchanges. The key to overcoming these issues is retaining a well respected and knowledgeable qualified intermediary company who can guide you through the process and avoid any potential pitfalls
Sunday, November 8, 2015
Wednesday, November 4, 2015
Overcoming Key Challenges with a 1031 Exchange -
Overcoming Key Challenges with a 1031 Exchange -
Great Post on how qualified intermediary companies help
clients overcome 1031 Exchange challenges
clients overcome 1031 Exchange challenges
Thursday, October 29, 2015
Identification Rules in a 1031 Exchange -
Identification Rules in a 1031 Exchange -
Great post on ensure compliance with the 45 day identification requirement when engaging in a 1031 exchange and how a qualified intermediary plays such an important role in ensuring the rules are followed to properly defer federal and state, if applicable, along with depreciation recapture taxes. All of those taxes combined could result in an amount as high as 30% of your profit being paid out to the governmental entities responsible for collecting such taxes. A crucial part of compliance with such rules is engaging an experienced qualified intermediary company which is either owned by a licensed CPA or licensed Tax Attorney.
Great post on ensure compliance with the 45 day identification requirement when engaging in a 1031 exchange and how a qualified intermediary plays such an important role in ensuring the rules are followed to properly defer federal and state, if applicable, along with depreciation recapture taxes. All of those taxes combined could result in an amount as high as 30% of your profit being paid out to the governmental entities responsible for collecting such taxes. A crucial part of compliance with such rules is engaging an experienced qualified intermediary company which is either owned by a licensed CPA or licensed Tax Attorney.
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