Appraisal Witness: Qualified Expert

Appraisal Witness: Qualified Expert

Divorce Pension Division

Divorce Pension Division is always accomplished by an accredited personal property appraiser. Arriving at a fair split of the subject pension can only be done with a qualified appraiser determining the value of the pension at the time of the divorce.

Consider this hypothetical situation and the problems in determining a divorce pension amount. The recipient of the benefit began employment at 21, and is now 49. Their current pension plan allows them to retire after 30 years of service with a supplemented pension allocation. This means that the recipient is able to retire at 51 and receive an annual figure of $34,200 until they reach 62 years (when Social Security benefits commence). Once 62 years, they will continue to receive $17,100 annually, until death.

If, however, the recipient were to leave the company by the marital property accrual cutoff date at 50 years, with 29 years of service, their benefit entitlement would be $16,821 annually, commencing once they reached 65 years and continuing until death.
Depending on the approach used to determine the divorce pension amount, the amount allocated as the divorce retirement figure will be extremely different. If the divorce pension figure is decided by the deferred approach, then the non recipient will receive a divorce retirement settlement sum far below what the actual benefit will be worth.

The only time this dilemma does not present itself in divorce pension settlements is when the recipient is already retired, or if they have left employment. In all other situations, attorneys must confront this issue when determining a divorce retirement sum.
Where case law directs that you use the deferred vested approach to reach a divorce pension settlement amount, and you represent the non recipient, unless you can persuade the recipient to agree to a larger divorce retirement figure, the distribution of assets will be inequitable, but within the law.

Divorce Pension Division is one of the specialties of Durkin Valuation Associates. If the litigation involves a contesting of the Divorce Pension Division, Durkin Valuation Associates are expert appraisal witnesses giving irrefutable testimony to support our appraisals and valuations.
(617) 720-0332

Expert Appraisal Witness
  1. (required)
  2. (valid email required)
Please answer the Human verification question.
 

cforms contact form by delicious:days


Divorce Pension,appraisal witness

Technorati Tags: ,

Be Sociable, Share!

Leave a Reply


This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news



The Price on Her Head: Audits and Appraisals for the Art Aficionado
Bloomberg BNA
The Panel consists of a group of independent art “experts,” including appraisers, dealers, and curators who convene voluntarily for the IRS twice a year to value artwork reported on tax returns, usually as deductions for charitable contributions, or as ...




Parade

What You Need to Know About Appraising Collectibles
Parade
“An antiques or fine art dealer who also appraises but does not have appraisal methodology training likely understands buying and selling prices but often does not understand the difference between fair market value, market value and replacement value ...




Yahoo Finance

Protect Yourself From a Tax Audit
Yahoo Finance
For example, deducting a large charitable contribution—say, $20,000—if your adjusted gross income is $40,000 is permissible by the IRS but might appear out of place. Keep dated receipts for cash gifts of $250 or more and for noncash items you donate ...




Vail Daily News

Fine art appraisal series at Gallery 8 Arts in Avon free to attend
Vail Daily News
... plastic bag ban goes into effect May 1; town handing out free reusable bags · Gypsum's Costco to launch in-warehouse liquor sales · Negomir skiing fast toward future at only 19 years old. Friday, June 8: For art collector and estate attorneys, this ...




Law.com

South Florida Attorney Sued by DOJ for Alleged $35M Tax Scam
Law.com
An attorney in South Florida is accused of running a $35 million federal tax advice scam offering fake deductions using three bogus charities for 19 years. The Justice Department filed the civil lawsuit in Miami federal court seeking an injunction ...

and more »



Confusion Following the Death of the Conservation Easement “Enhancement Regulation”
Lexology
At trial, none of the expert reports provided by the IRS nor the taxpayer determined that the contribution of the conservation easement “enhanced” the value of any other property owned by the taxpayer. However, disregarding the experts' opinions, the ...




Feds Say Atty's Charitable Tax Scheme Cost Gov't $35M
Law360
“And while the IRS has assessed and will continue to assess scheme participants with significant tax liabilities, it will likely never fully recover the monies Meyer bilked from the Treasury,” the government says. The suit seeks to enjoin Meyer and all ...

and more »



Greater Wilmington Business Journal

Making the Most of In-Kind Donations
Greater Wilmington Business Journal
Public charities are required to report all cash and In-Kind gifts above a defined dollar value on Schedule B, Schedule of Contributors, of their annual IRS Form 990, Return of Organization Exempt From Income Tax, including the donor's name, address ...




Business Wire (press release)

KeyStoneB2B Offers Mortgage Lenders More Affordable Tax Return and Income Verification to Accelerate Loan ...
Business Wire (press release)
“The IRS is the best source to verify income. When banks and other financial institutions work with us, we automate the process of validating information provided by the borrower, including income statements, W-2, tax returns and other documentation ...

and more »



Washington Post

The secretive panel of art experts that tells the IRS how much art is worth
Washington Post
These cases are routed first to the IRS's Art Appraisal Services division. That office then decides which ones require the expert eyes of the Art Advisory Panel. The panel generally considers works of art worth at least $50,000. The panel can accept a ...


Google News

Copyright © 2008, 2009, 2010, 2011, 2012 appraisalwitness.com All rights reserved.
http://appraisalwitness.com/