MOST FREQUENTLY ASKED QUESTIONS ABOUT DIVORCE SETTLEMENTS
Q. I have never worked. Can I get Social Security?
A. If your spouse has worked and if you have been married for 10 years or more, than you are entitled to one-half
of your spouse's Social Security or your own, whichever is higher, even if you are divorced. Your spouse still retains
100% of his/her Social Security benefit. Social Security Administration.
Q. How do we figure how much child support should be paid?
A. Louisiana and Arizona have Child Support Guidelines that are mandated by the State. However, the Guidelines
get tricky when one (or both) spouses is an independent business owner who can control their income or has significant
investments or one or more of the children have special needs.
Q. Do we have to go to court?
A. Usually you will have to go to Court to settle custody and property issues. If you can't reach an agreement at all,
then, a court date is set and a judge hears the case. If you enter into a Collaborative Divorce and successfully complete
the process you never have to go to Court,
Q. What is a QDRO and why do I need one?
A. A QDRO (or Qualified Domestic Relations Order) is the legal document that divides up a qualified pension or
retirement account (including 401k's) pursuant to a divorce. Neither the Judgment of Divorce nor the Property Partition
is sufficient to divide up the qualified plans; a QDRO is needed, preferably before the divorce is final. Federal, State,
County/Parish and Military retirement benefits have to be divided by special Court Orders. There are many nuances that
go into these Orders and if they are not prepared, or prepared improperly, you can lose your access to these pensions.
In order to protect your assets, be sure to make sure these Orders are prepared.
Q. I have never worked. Can I get Social Security?
A. If your spouse has worked and if you have been married for 10 years or more, than you are entitled to one-half
of your spouse's Social Security or your own, whichever is higher, even if you are divorced. Your spouse still retains
100% of his/her Social Security benefit. Social Security Administration.
Q. How do we figure how much child support should be paid?
A. Louisiana and Arizona have Child Support Guidelines that are mandated by the State. However, the Guidelines
get tricky when one (or both) spouses is an independent business owner who can control their income or has significant
investments or one or more of the children have special needs.
Q. Do we have to go to court?
A. Usually you will have to go to Court to settle custody and property issues. If you can't reach an agreement at all,
then, a court date is set and a judge hears the case. If you enter into a Collaborative Divorce and successfully complete
the process you never have to go to Court,
Q. What is a QDRO and why do I need one?
A. A QDRO (or Qualified Domestic Relations Order) is the legal document that divides up a qualified pension or
retirement account (including 401k's) pursuant to a divorce. Neither the Judgment of Divorce nor the Property Partition
is sufficient to divide up the qualified plans; a QDRO is needed, preferably before the divorce is final. Federal, State,
County/Parish and Military retirement benefits have to be divided by special Court Orders. There are many nuances that
go into these Orders and if they are not prepared, or prepared improperly, you can lose your access to these pensions.
In order to protect your assets, be sure to make sure these Orders are prepared.
| Andrew K. Hoffman Certified Divorce Financial Analyst |
| Frequently Asked Questions |