The Atlanta Lawyer October/November 2019 | Page 18

Legal
T
"What Ifs"
That Hit
Home
When family gatherings
bring family, estate, trust, etc.
questions.
18
October/November 2019
his is the
season where
family travels
near
and
far to be
together for
the holidays.
H a v i n g
multiple
family and
friends in one
place can also
turn into an impromptu Q & A forum. Below
are practical tips when pressed by friends
and family for a “little free legal advice”
on family law issues (cousin contemplates
marriage number two) or estate/wills/
elder law matters (friend with aging parent
needs to update estate plan). Below two
local practitioners offer simple pointers and
guidance on the “Dangers of Dabbling” in
these areas of practice. John Killeen practices
family law with Bodker, Ramsey, Andrews,
Winograd & Wildstein, PC. Kathryn Seabolt
has a trusts, estates, and probate practice.
Both serve clients throughout the metro
Atlanta area.
1. Separation and Dating Issues
One of the first questions people want to
know is whether it is OK to start dating after
they have separated. This is a pretty easy
one—go ahead if you want to complicate your
divorce! Not only can the person you begin
dating get pulled into the divorce, but dating
before a divorce is completed can be a bar
to receiving alimony if the new relationship
is deemed the cause of the separation. It
is certainly smart to avoid starting a new
relationship until your prior one is officially
dissolved. This is especially true if a party is
intending to seek alimony.
2. Retirement Funds and Divorce
People often think retirement funds in their
sole name are their “separate” property.
However, that is not true if all or part of
retirement funds were earned during the
marriage. To the extent the retirement
funds were earned during the marriage, they
are marital property up for division in the
divorce (as is all property acquired during the
marriage other than through inheritance).
Such funds can be transferred to the ex-
spouse without tax consequences pursuant
to a qualified domestic relations order, or
“QDRO.” 401K plans usually require a QDRO
in order to be divided, whereas IRAs do not.
In order to help avoid tax consequences or
early withdrawal penalties for either party, it
is important to discuss with a tax accountant
the possible tax consequences of liquidating
funds versus rolling them over into various
tax deferred retirement plans.
3. Protecting Assets in a New Marriage
Couples with blended families, especially
ones with special needs children, may want
to enter into a pre or post-nuptial agreement
in order to safeguard the inheritance for
children of a prior relationship. One of