Sign Kentucky Banking Separation Agreement Later

Separate settlement

so I'm here today with Tracy Kendall from survey divorce and I thought I would ask her to come on out and talk about a common topic nowadays of divorce and what I often see through divorce is when the division of assets are happening once both get solved and another Rose is entitled to the pension what do you do to make sure that this can be equalized because I hope that it is not taxable well a pension is the way taxable income levels well the big thing that we do is we lecture the division about debt so when we're looking at the health tip the health is worth a half million dollars and pension or a half a million dollars is actually not equal so we need to match dollar-for-dollar so we need to actually consider the tax consequences when that oneself is going to collect the pension down the road so that half a million dollar pension is no longer half a million dollars so we need to look at what their tax bracket is so if their tax bracket is around 130 percent we actually need to deduct 30% off select match dollar-for-dollar and if allowed not make secure so tell me what happens then how you equalize senator so half a million and after the tax comes off the division of us of our people running equalize it so that's the time so if you're looking at always the example half a million dollar Houston half a million dollar tension on and using a 25% tax bracket so now we're leaking out a pension restoration and seventy five thousand versus a five hundred thousand dollar home so we need to balance it out so that's when the length of keeping the home is going to reward it their home in order to pay out the other self to compensate it so we have an equal division of property okay so now I another challenge would give us both can't get lending for the mortgage to pay the other school then we can't do it right so the last thing with our process is we want to make sure that so that one since the moon was pre-approved heat from home so often we send our client out to get pre-approval they come back yes they can keep them home these are the terms this is their conditions and then we try to meet that and then to that supposed to three sign ups their home paying the other selves who is keeping the tension out there equal division property okay so now I'm thinking of other things so then on a financial planning concept you when you work with your clients you start thinking about can they afford a mortgage now in a mortgage payment you get that detailed rating you're funny sometimes we do when we're talking elbows proto jobs certainly wanna make sure that the one's self isn't going to be...