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| Married couple Photo by Samantha Gades on Unsplash |
Carla Risoldi specializes in family law, and has served Pennsylvania-based clients for over two decades. Before establishing Risoldi Law Offices, LLC, in 1994, she worked as an associate attorney and as an assistant district attorney. Carla Risoldi is a member of Pennsylvania, New Jersey, Bucks County and Mercer County Bar Associations. Over the course of her career, she has focused on a range of family law topics, including the equitable distribution of marital assets in cases of divorce.
When a couple decides to divorce, the allocation of retirement benefits can be challenging. Many working spouses believe that these benefits should accrue directly to one individual, but this isn’t always the case. If earned during the marriage and prior to separation or complaint, retirement benefits may be regarded as marital property--meaning that the other spouse could be entitled to a portion of the value or payment. When this is the case, there are various methods to address the issue, such obtaining a present marital value for the asset and, in effect, swapping it for another marital asset. If this method is not practical, given the overall marital estate, the marital portion of the retirement asset can actually be divided among the parties, without any tax or penalty. This is effectuated by means of a Qualified Domestic Relations Order (QDRO), a special court order that is in addition to the divorce decree and martimonial settlement agreement.
Allocating the assets of family-owned businesses can also prove challenging during divorce proceedings, as both the value of the business and the profits of the business must be considered. For small enterprises, a buyout is one potential solution: One spouse purchases a portion of the business that belongs to the other spouse. Alternatively, the business may be sold and the proceeds divided or the business may be liquidated, in which various aspects of the business are assigned to each spouse. Generally speaking, the courts strive to keep the business going and prefer the buy-out option when possible.
Dividing retirement benefits and businesses are but one aspect of the many potential issues that can arise in a divorce situation. If you are considering a divorce, you should always consult with an experienced attorney such as Carla Risoldi. In addition to practicing law with Risoldi Law Offices, LLC, Carla also serves as a mediator through samaggikaranam divorce & custody mediation, llc. Carla Risoldi can be reached at 215-741-3700.
When a couple decides to divorce, the allocation of retirement benefits can be challenging. Many working spouses believe that these benefits should accrue directly to one individual, but this isn’t always the case. If earned during the marriage and prior to separation or complaint, retirement benefits may be regarded as marital property--meaning that the other spouse could be entitled to a portion of the value or payment. When this is the case, there are various methods to address the issue, such obtaining a present marital value for the asset and, in effect, swapping it for another marital asset. If this method is not practical, given the overall marital estate, the marital portion of the retirement asset can actually be divided among the parties, without any tax or penalty. This is effectuated by means of a Qualified Domestic Relations Order (QDRO), a special court order that is in addition to the divorce decree and martimonial settlement agreement.
Allocating the assets of family-owned businesses can also prove challenging during divorce proceedings, as both the value of the business and the profits of the business must be considered. For small enterprises, a buyout is one potential solution: One spouse purchases a portion of the business that belongs to the other spouse. Alternatively, the business may be sold and the proceeds divided or the business may be liquidated, in which various aspects of the business are assigned to each spouse. Generally speaking, the courts strive to keep the business going and prefer the buy-out option when possible.
Dividing retirement benefits and businesses are but one aspect of the many potential issues that can arise in a divorce situation. If you are considering a divorce, you should always consult with an experienced attorney such as Carla Risoldi. In addition to practicing law with Risoldi Law Offices, LLC, Carla also serves as a mediator through samaggikaranam divorce & custody mediation, llc. Carla Risoldi can be reached at 215-741-3700.
