Modern Family Law
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Can divorce be considered a hardship for 401(k) withdrawal?Navigating the financial ramifications of a significant life change, such as divorce, can be challenging. One question often arises during these times pertains to the intersection of divorce and 401(k) withdrawals.As per IRS guidelines, a 401(k) hardship withdrawal applies to immediate and heavy financial needs. These might include medical bills, costs related to purchasing a primary residence, tuition fees, payments to prevent eviction or foreclosure, funeral expenses, or certain costs to repair damage to a primary residence.Traditionally, the occurrence of divorce in itself might not directly qualify as a hardship under these guidelines. However, the financial strains often following a divorce, such as significant legal fees or the necessity to establish a new primary residence, could qualify. The interpretation of these circ*mstances largely depends on the specifics of your plan and how it applies to the IRS rules.Remember: while the IRS permits hardship withdrawals, individual 401(k) plans can allow or disallow them. The plan can establish its criteria within the broader IRS guidelines if allowed.One important thing to remember is that hardship withdrawals are subject to income tax. If you're under 59 ½, a 10% early withdrawal penalty may also apply.The landscape of rules and regulations around 401(k) withdrawals is complex and could evolve with time. Therefore, it's essential to stay informed and consult with a financial advisor or your 401(k) plan provider to understand your situation's most current and accurate information.In these challenging times, staying informed and seeking professional advice can make all the difference. Stay strong, stay informed, and remember you are not alone.
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Modern Family Law
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Within the scope of their certification, Licensed Legal Paraprofessionals (LLPs) offer general advice on family law issues to ensure clients understand their options and the legal framework. This new service aims to make legal support more accessible and affordable, providing valuable guidance for those navigating family law matters.Discover how LLPs can assist you today: https://hubs.li/Q02Q0T2T0#ModernFamilyLaw #FamilyLaw #LLP #DidYouKnow
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Today marks the beginning of Hispanic Heritage Month, a time to recognize and honor the rich histories, cultures, and contributions of Hispanic communities.At Modern Family Law, we proudly celebrate diversity and inclusion, and we are committed to recognizing the contributions of all communities. Happy Hispanic Heritage Month!#HispanicHeritageMonth #ModernFamilyLaw #FamilyLaw
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Like CommentSee AlsoI lost my job during the pandemic and I’m getting a divorce. Can I take money from my 401(k)? — San Jose Divorce Lawyer Blog — January 13, 2021How Does a Prenuptial Agreement Protect Me? - Aiello & DiFalco LLPHow Does a Divorce Affect Your 401(k) & Retirement Assets?Can I Empty My 401(k) Before Divorce In Georgia? - Attorney Sharon Jackson, LLCTo view or add a comment, sign in
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Modern Family Law
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We are honored to share this incredible review from a client who worked with our amazing attorney, Jacqueline Collins:"It is scary looking for a Divorce Lawyer—to have found Jackie Collins was a Divine Blessing! You want a Lawyer with heart and compassion and for them to be smart and tough—Jackie delivers all of that and then some! Honest & available for you till the end! I couldn’t be more pleased and beyond grateful I had her on my side! Thank you, Jackie! Your Firm is lucky to have you! 10 Stars️" - Lannette R.We are proud of Jackie’s dedication to her clients and her ability to offer both compassionate care and strong advocacy throughout the legal process.Learn more about Jackie: https://hubs.li/Q02PpWhR0#Testimonial #FamilyLaw #Review #ModernFamilyLaw
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Modern Family Law
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We are excited to introduce Emma Rubottom, our newest attorney at Modern Family Law in Palo Alto!After attending the University of Oregon for her undergrad, Emma shifted her focus from environmental law to family law, discovering a passion for helping clients navigate some of the most challenging times of their lives. Emma chose Modern Family Law because our values align with hers—compassion, understanding, and client-centered service are at the heart of everything she does.Fun facts about Emma: she snorkeled in the Great Barrier Reef!Welcome to the Modern Family Law team Emma! Learn more about Emma: https://hubs.li/Q02PpXKk0#NewHire #ModernFamilyLaw #California #FamilyLaw
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Modern Family Law
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We are thrilled to share that Modern Family Law’s CEO, M. David Johnson, has been featured in the Denver Business Journal! In this article, Dave discusses the exciting advancements and early success of the Licensed Legal Paraprofessional (LLP) program in Colorado.This program represents a major step forward in providing accessible and affordable legal services.Read more: https://hubs.li/Q02PpRZ10#LLP #FamilyLaw #ModernFamilyLaw
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Colorado LLP Virtual Panel www.linkedin.comJoin us on Wednesday, September 11th at 11:30 am MT for our second Colorado LLP Virtual Panel!
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We are excited to share that Kaitlan Read has been promoted to Paralegal Operations Manager!Kati’s dedication, leadership, and exceptional work as a paralegal have made a significant impact on our team and clients. We know she will continue to excel in her new role!Congratulations on this well-deserved promotion, Kati#Promotion #ModernFamilyLaw #FamilyLaw
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Modern Family Law
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Our Licensed Legal Paraprofessional (LLP) program is designed to assist a diverse range of clients who need accessible and professional legal help. Whether you're looking for guidance on straightforward family law matters or need expert oversight without full attorney involvement, our LLPs offer cost-effective support to help you navigate your legal journey with confidence.Learn more: https://hubs.li/Q02P9vYz0#LLP #FamilyLaw #FAQ #ModernFamilyLaw
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We are honored to share this heartfelt review from a client who worked with Craig Valentine and Patricia Bailey:"Although the process of divorce is an absolute nightmare, I felt that I had some incredible people in my corner helping me through that nightmare. Craig Valentine and Patricia Wallace were always there to answer my questions and provide information on the next steps. Nothing truly prepared me for how long the process was, but I slept better knowing I had them to help me. When it came time for court, Craig was an absolute Rockstar, ensuring that what was best for my children and I was always at the forefront of his preparations. I’m glad to have worked with both Patricia and Craig throughout the entire process." - Rick M.We are incredibly proud of the dedication Craig and Patricia show to each of their clients. Learn more about Craig: https://hubs.li/Q02N_Fbw0#Review #Testimonial #FamilyLaw #ModernFamilyLaw
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Modern Family Law
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We are excited to welcome Ayesha Khan to Modern Family Law! Originally from Chicago, Illinois, Ayesha brings her experience from both the civil and criminal sectors of law. She is passionate about using her litigation skills to help clients navigate sensitive family law issues with compassion and expertise.Ayesha is now proud to call the Bay Area home and loves exploring its beauty. Fun fact about Ayesha: she enjoys trying new restaurants from around the world!Welcome to the Modern Family Law team, Ayesha! We are thrilled to have you on board.#Welcome #NewHire #ModernFamilyLaw #FamilyLaw #California
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