Coronavirus, Divorce and Family Law:

We are open!

Higdon Hardy & Zuflacht is taking a safe but proactive approach to the Coronavirus situation in our law practice. We are working every day to represent our family law clients. At the same time, we are following best practices to protect the health of our employees and our clients. To read more please Click Here

All our employees understand that they should not be working if they are sick, and in particular, that they should not be at our office while sick.

To further protect our employees and our clients we are encouraging meetings by phone, Zoom, Skype or similar means. We have represented clients from out of state and out of the country in this manner for many years. Our clients often prefer this to traveling to our office.

We are also working with the divorce and civil courts, as well as opposing counsel, to arrange court appearances, settlement conferences, and other litigation events remotely whenever possible.

To further protect the health of all concerned, all our attorneys and staff have the technology and capability to work on cases and with clients from home as well as at the office. Your phone calls will be returned. Your emails will be answered. Your case deadlines will be met.

The days ahead may be a challenge. We do not yet know the extent to which particular courts will curtail trials or even the extent to which HHZ will have clients and other guests come to our office. We will continue to work to take care of our clients’ cases and to take on new matters and clients. We will simply manage your case in less traditional, more technology-driven ways, that are safer for your health and ours.

Thank you for your trust.

Trust Our Experience. Family Law is what we do.

All of the partners at our firm are Board Certified in Family Law - less than 1% of Texas lawyers achieve this distinction.

Dividing an IRA in a divorce

The process of legally ending a marriage can be a complicated one due to the division of assets as well as the emotions involved. While it may be easy to forgo an asset, such as a share of a retirement plan, in favor of the family home, for example, this may not be in a person’s best interests. For many couples in Texas, retirements funds account for the couple’s liquid assets that are worth the most money, making it important for those going through divorce to seek a fair division.

There are a variety of different types of retirement accounts. How an account is divided and the process that division follows often depends upon the type of account. For example, some accounts, such as 401(k)s, require an order by the court, known as a qualified domestic relations order, to proceed.

Special considerations must also be made in order to avoid tax penalties. The division of an IRA, for example, must be indicated as an incident of divorce during a transfer. Failure to properly category a transfer could result in tax penalties to both the recipient and sender. If an IRA transfer does not take place within a year of the settlement, it could become the subject of an IRS review.

Even couples who are committed to a peaceful divorce require advice when it comes to certain matters, especially in regards to asset division. By having an experienced attorney guide the process, Texas couples can potentially avoid costly mistakes that could result in additional penalties. Additionally, such a professional can provide advice on a variety of different issues surrounding the end of a marriage.

Source: Forbes, “Divorcing? How to Split Up Retirement Nest Eggs“, Duncan Rolph, Nov. 23, 2016

Higdon, Hardy & Zuflacht, L.L.P. 12000 Huebner Rd #200 San Antonio, TX 78230 Telephone: (210) 349-9933 Fax: (210) 349-9988
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