IDFA Online Learning
One Sentence to Divide a Pension is not Enough - What CDFAs Need to Know to Protect the Rights and Entitlements of their Clients
Recorded On: 11/21/2023
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CDFAs are frequently brought onto a case to help provide options and scenarios for dividing retirement accounts. Many times though, the clients and their attorneys do not even know what type of accounts the clients have. Imagine being divorced and hiring someone to do the QDRO only to find out that the plan is non-qualified and it cannot be divided by a QDRO. Or, that only one sentence was used to divide the parties’ biggest asset - a pension - and none of the ancillary benefits were addressed? That agreement contained twice as much language dividing the parties’ wedding china than it did for the pension.
This webinar, led by Certified QDRO Specialist™, Diane Pappas, will cover many of the mistakes made when verifying and dividing different types of retirement plans. We will cover both qualified and nonqualified plans for both defined contribution and defined benefit plans, as well as addressing some common issues with state pensions. Marital coverture fraction for defined benefit plans will be demystified. Pros and cons for the equalizing of multiple accounts and a brief review of when to do a pension valuation will also be covered. Sample language will also be provided.
Diane C. Pappas (Moderator)
CDFA®, CQS™
Solutions For Divorce LLC
DIANE C. PAPPAS is the principal and owner of Solutions for Divorce LLC, an independent, fee-only divorce financial planning firm serving clients throughout Massachusetts. Ms. Pappas is a Certified Divorce Financial Analyst®, Certified QDRO Specialist™, trained divorce mediator, Collaborative Financial Neutral, and Registered Investment Advisor.
Diane has presented at national conferences on divorce financial analysis and is nationally recognized as an expert in her field. In 2023, she received the IDFA Lifetime Achievement Award, honoring her as one of the very best CDFA® professionals in the country.
Her practice focuses on the complex financial and tax issues inherent in divorce, including financial forensics, pension valuation, complex asset division, executive compensation analysis, and tax-based child support and alimony calculations under Massachusetts case law. She drafts Qualified Domestic Relations Orders (QDROs) for all types of retirement plans, including defined contribution plans, defined benefit pensions, non-qualified plans, and state retirement systems. Diane has been qualified as an expert witness in pension valuation matters.
The primary focus of her work is ensuring that clients have clarity, confidence, and a complete understanding of their financial settlement before signing on the dotted line.
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