Twin Cities Divorce Law Firm

Retirement Plan word cloud with financial words

Located in the historic Linden Hills neighborhood of Minneapolis, Lake Harriet Law Office provides exceptional legal representation exclusively in the areas of Divorce and Family Law.  

Attorneys Randall A. Smith and Amber C. Bretl can represent you in Divorce, Child Custody, Child Support, Parenting Time (Visitation)Property Division, Spousal Maintenance (Alimony) CasesFamily Law Appeals and Antenuptial (Prenuptial) Agreements.

We also provide Family MediationSocial Early Neutral Evaluation (SENE), and Financial Early Neutral Evaluation (FENE)) in Family Law cases throughout the Twin Cities.

The Financial Aspect of Divorce – Use of CPA and other Experts

When choosing a Divorce lawyer, you should inquire about their expertise and financial acumen, as well as their understanding of advanced financial issues such as present value calculations of property and assets.  In certain Divorce cases, it will be necessary to work with a CPA, Actuary or Neutral Real Estate Appraiser in order to provide neutral valuations of various assets, such as a 401k, 403b, ESOP, IRA, Brokerage Accounts, Pension, Businesses or Real Estate.  

Lake Harriet Law Office represent Divorce and Family Law clients in Bloomington, MN, Edina, MN, St. Paul, MN, Golden Valley, MN, St. Louis Park, MN, Hopkins, MN, Eden Prairie, MN, Minneapolis, MN and throughout the Twin Cities.

Minneapolis Divorce Attorneys Smith and Bretl

Please call 612-750-4843, or complete the Contact Us form to schedule a consultation.

Attorney Randall A. Smith  612-750-4843

Attorney Amber C. Bretl       612-223-8925

From Our Twin Cities Family Law Blog:

Divorce and Retirement Accounts
 
In many divorce cases, one spouse is awarded a Qualified Domestic Relations Order (QDRO) as part of the division of assets.  Common types of QDRO’s include a 401(k), 403(b) and defined pension benefit plans.  With a QDRO, there is an exemption to the 10% early withdrawal excise tax, so a payment made to an alternate payee spouse would be only subject to federal and state income tax.  See Code Section 72(t).  This can help a divorcing spouse who needs cash, but does not want to be subject to the 10% penalty.  Some of the primary areas of dispute in divorce cases include division of assets and debts, spousal maintenance (alimony), child support, child custody, real estate issues, parenting time, retirement account and pension valuation, non-marital claims and business issues related to income and valuation.