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Virginia Estate Planning Attorney Comments on Division of Retirement Accounts For Divorcing Couples

Fairfax, VA (Law Firm Newswire) October 26, 2016 – Couples approaching retirement age and contemplating divorce, may confront problems regarding ways in which to divide their retirement accounts. The divorce rate is skyrocketing for baby boomers. According to a report by the National Center for Family and Marriage Research, between 1990 and 1994, the divorce rate among adults over age 50 doubled. And the rate tripled for those over age 65 in the same time frame.

Recently, a survey conducted by the American Academy of Matrimonial Lawyers found that retirement accounts and pensions were second only to alimony as the assets over which couples argued the most. When couples acquire retirement benefits while they are married, such benefits are usually divided equally. The couple has retirement accounts that they originally planned to use in one household, and now those funds must be used to benefit two households. Some people say they have saved every month, and do not understand why they must share their savings with their spouse. However, in most cases, retirement accounts are considered marital property. Therefore, at the end of a marriage, it is recommended that divorcing spouses check or modify the beneficiary of those accounts.

Prominent Vienna, Virginia estate planning attorney Lisa McDevitt says, “Couples who are contemplating divorce should consider dividing retirement accounts in a way that is fair and equitable, and not underestimate the potential value of such assets.”

The majority of retirement accounts, such as a pension, 401(k) or IRA are taxed when funds are withdrawn. However, a Roth 401(k) or Roth IRA is taxed upon a person’s contribution to the account after which it is tax-free when the accountholder makes withdrawals from the account provided specific requirements are met.

Divorcing spouses must consider the after-tax value of the retirement accounts. When changing from married filing jointly to filing as single, in cases of a high earner and a low earner, there will be an increase or decrease in the value of the IRA or 401(k) for each spouse depending on their tax bracket. If a couple is splitting a 401(k) or IRA, and they are in different tax brackets, adjustments can be made to make certain that they each receive an amount that is of equal after-tax value.

While dividing a retirement account is fairer than exchanging one account for another, it is also more equitable to exchange retirement accounts for other assets. While many women choose assets with sentimental value, such as the home, that may not be in their best interest. It can be costly to maintain a family home, which can deplete funds instead of rise in value, as a retirement account can. Additionally, the dependent spouse can easily underestimate the precise value of a 401(k). It can be a significant asset if it has reached its maximum value over a spouse’s entire career.

Lisa Lane McDevitt
2155 Bonaventure Drive
Vienna, VA 22181
Phone: 571-271-1446

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Texas Company Files Breach of Contract Lawsuit

Austin Oil and Gas Attorney, Gregory D. Jordan

Austin Oil and Gas Attorney, Gregory D. Jordan

Austin, TX (Law Firm Newswire) October 26, 2016 – A call center company has been sued by a Plano, Texas merchant services provider over an alleged breach of contract.

The lawsuit was filed in the U.S. District Court for the Eastern District of Texas, Sherman Division, on Aug. 11, by Pivotal Payments Inc. (Pivotal) against Taking You Forward LLC (TYF). Pivotal claims it is owed more than $109,000, including $25,000 in consequential damages.

“Consequential damages go beyond the terms of the contract itself, when the plaintiff claims that the defendant’s breach caused additional costs or lost profits,” commented Gregory D. Jordan, a business litigation attorney with the Law Offices of Gregory D. Jordan in Austin, Texas. “There are special pleading and proof requirements to recover consequential damages,” Jordan notes.

The complaint alleges that Pivotal, a national merchant services provider, entered into a contract whereby TYF would provide contact center services. Pivotal claims that it provided 30 days’ notice of termination of the contract, pursuant to its terms, and TYF was obligated to provide services for 30 more days. However, the lawsuit claims that TYF retaliated by stating that it would “ramp down” to a “skeletal contractual staff.” Pivotal claims that TYF’s alleged repudiation of its obligations would result in extended hold times damaging Pivotal’s business. Thus, Pivotal was forced to in-source its contact center services, resulting in consequential damages of at least $25,000.

Pivotal further alleges that upon termination of the agreement, TYF was obligated to return the balance of a security deposit paid by Pivotal in the amount of $84,093.75, but TYF failed to do so. Pivotal requests a jury trial.

Law Offices of Gregory D. Jordan
5608 Parkcrest Drive, Suite 310
Austin, Texas 78731
Call: 512-419-0684

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Zamansky LLC Investigates Jeffrey Rubin, Pro Sports Financial Athlete Fraud Scandal For Supervisory Failures By Potentially Culpable Third-Parties

New York, NY (Law Firm Newswire) October 25, 2016 – Zamansky LLC announces that it is investigating the Jeffrey Rubin and Pro Sports Financial athlete fraud scandal for supervisory failures by potentially culpable third-parties.

FINRA Regulators barred broker Jeffrey Rubin of Pro Sports Financial, in Florida, from the securities industry for making unsuitable recommendations to his customer, an NFL player, who lost $3 million from an illiquid, high-risk investment issued in connection with a now-bankrupt Country Crossing casino in Alabama. Based on Rubin’s referrals, 30 other NFL players also invested in the casino project and lost approximately $40 million.

Our firm is investigating the potential culpability of third-party firms for failure to supervise the athlete fraud by Jeffrey Rubin and Pro Sports Financial, according to investment fraud attorney Jacob Zamansky. Between January 2008 through March 2011, Jeffrey Rubin was registered as a broker Alterna Capital Corporation and International Assets Advisory, LLC. Under FINRA Rules, these firms had duties to supervise him for “selling away,” Jacob Zamansky says. We are investigating potential legal claims against third-parties to recover losses suffered by Mr. Rubin’s victims based on supervisory violations, Zamansky says.

Athlete Fraud Victims – What You Can Do

If you were a victim of Jeffrey Rubin and Pro Sports Financial athlete fraud scandal and suffered a loss, you may contact us to discuss your legal rights, without obligation or cost to you, by email to [email protected] or telephone at (212) 742-1414.

About Zamansky LLC

Zamansky LLC is a leading investment fraud law firm specializing in securities, hedge fund, athlete fraud and shareholder class action litigation, and FINRA securities arbitration. We are investment fraud attorneys who represent both individual and institutional investors. Our practice is nationally recognized for our ability to aggressively prosecute cases and recover investment losses.

To learn more about Zamansky LLC, please visit our website,

Zamansky LLC
50 Broadway – 32nd Floor
New York, NY 10004
Jake Zamansky, 212-742-1414

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Royal Cargo Corp., Leyvis Ortega Sued for Failing to Maintain Control of Truck

Austin Personal Injury Lawyers

Austin Personal Injury Lawyers – Perlmutter & Schuelke, PLLC

Austin, TX (Law Firm Newswire) October 25, 2016 – Mercedes Contreras is suing Royal Cargo Corp. and Leyvis Ortega, alleging Ortega negligently failed to properly control his big rig.

According to the trucking accident lawsuit filed in this case, Mercedes Contreras was heading west on I-30. She was hit by a big rig driven by Leyvis Ortega, who collided with the rear of her car. Contreras alleges she sustained permanent, disabling injuries. The statement of claim further alleges that Ortega did not pay attention to where he was going and what was going on around him, did not stay a safe distance behind Ms. Contreras’s vehicle and failed to use his brakes soon enough to avoid the accident.

“In cases like this one,” said Austin trucking accident attorney Brooks Schuelke, “there are typically multiple defendants named. These may include the truck driver, the owner of the truck if it is not the driver, the trucking company the driver worked for, and in some instances, the owner of the load on the truck at the time of the accident.”

Schuelke, who is not involved in this case, says trucking accidents are highly complex and may also involve jurisdictional issues. For example, an accident may occur in Texas, but the trucking company’s headquarters are in South Carolina and the driver is from Nebraska. Things get even trickier when the victim is from yet another state.

“Jurisdiction is important because it determines which court should hear the accident case and has an enormous influence on insurance issues,” Schuelke added. Not many people realize that every state has different requirements on what kinds of insurance trucking companies must carry, how insurance monies are to be paid out and who pays them out. “It can get even more complicated when an accident happens in a ‘fault’ state versus a ‘no-fault’ state. Fault is a crucial determining factor in liability and who pays what at the end of the day.”

In “no-fault” states drivers file a claim with their own insurance company no matter who may be at fault. In those cases, an injured party may start with a claim against the other driver’s insurance company and launch a personal injury lawsuit against the other driver.

“As you can see, trucking accidents are very complicated and for this reason, it is wise to retain personal injury counsel to determine your options. Act quickly though, as delays may result in evidence being destroyed or lost,” added Schuelke.

Perlmutter & Schuelke, PLLC
206 East 9th Street, Ste. 1511
Austin, TX 78701
Call (512) 476-4944

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