Entries by Pence Law Firm PLLC

Understanding QDROs and the Division of High Value Retirement Accounts

In many divorces, the division of assets is the most complex and time-consuming part of the entire process. It’s especially hard in long marriages where both partners have built up assets and completely intermingled their financial futures. Retirement accounts can be particularly challenging to divide, due to their significant value and their propensity for growth. […]

Important Things to Know About Modifying a Child Custody Arrangement

The initial custody agreement you and a coparent agree on may not work forever. Life changes, and it’s important that custody arrangements change with it. However, getting a modification in a child custody arrangement can be a challenge. It’s crucial to know what the court will look for, why the court may be willing to […]

Mitigating the Risks of Business Depreciation During High Asset Divorces

When a couple owns a business together, protecting that business during a divorce can be a top priority. It’s not uncommon for businesses to be negatively affected during a divorce. Stockholders worry about the future of the company, are uncertain about whether a massive stock transfer will affect the company’s value, and wonder if consumers […]

Divorce and Philanthropy: How to Handle Shared Charitable Endeavors

If you and your spouse have built a legacy of charity and philanthropy, divorce may be especially painful for you. You may worry that the end of your marriage means an end to your charitable efforts, which you likely find very meaningful and fulfilling. You may also wonder if you’re financially tied to causes and […]

Divorce and Your Children’s College Funding

Figuring out your divorce is one of the hardest things you’ll ever go through. Not only do you have to consider your and your children’s immediate needs, but you also have to plan for needs that are still years away. For example, college funding—the cost of college has risen far more quickly than pay levels […]

Dealing With the Holidays After a Divorce

The aftermath of a divorce is incredibly painful, and it’s even harder during the holidays. If this is your first holiday season since getting divorced, you may be wondering how you can navigate this time with minimal stress and sadness. Although this will likely still be a hard time of year, with a little bit […]

Can an IRA Be Cashed Out During a Divorce?

You’ll have to make a long list of difficult decisions as you navigate your divorce. A big part of this discussion centers on the division of assets. Retirement assets are often among the most challenging to split, thanks to the immense value they have. Retirement funds have years or even decades left to grow, so […]

Adopted Children Might Need Extra Support During Divorce

If you’re facing divorce and trying to figure out what’s best for your children, it’s important to think about the specific needs of each child. When you and your spouse share an adopted child, it’s likely that your child will struggle quite a bit throughout this process. The loss that comes with adoption can often […]

Taking Control of Your Finances After a Divorce

Divorce is a major life event that can derail every aspect of your life while you get it sorted out. Your finances will likely take a significant hit while you work through your split, but that’s temporary. By planning ahead and being honest about your finances, you can take control of your financial situation and […]