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    Member help a member 
    Knowledge CIrcle

    FPA-LI's Member Help a Member Knowledge Circle gives our members and affiliates an opportunity for more in-depth examination of ideas, issues, trends, and regulations effecting our profession.  Our Member Help a Member Knowledge Circle will allow individuals an opportunity to acquire a deeper understanding and connection on areas of shared interest with other FPA-LI members through peer-to-peer learning.  The Member Help a Member Knowledge Circle is comprised of like-minded individuals seeking connection, knowledge, understanding and growth.

    To particpate, by asking a specific question or providing information on a specific topic, please click on the subject matter below.

     







    Information will be updated and posted here regularly.

     

    Divorce

    Question:  I have a client with an investment account of $1.4 million that is in husband's name alone.  He owned the account prior to the marriage of 15 years.  What, if any, portion of this account is considered a marital asset since the account was never held in joint name?
    - Submitted by Nannette Watts, CPA

    Answer: In order to determine what portion of the husbands account is individual property vs. marital property a full analysis of the account needs to be completed.  The amount of money that was in the account prior to the date of marriage must be determined.  If any money was added to the account during the marriage that amount would be deemed as marital.  In addition, the growth of the marital amount of money would also be considered part of the marital assets from the date of marriage to the cut-off date of divorce action.   - Answered by Donna LaScala, RFC, CDFA®

    social Security

    Dear Colleague,

    The Social Security Statement is one of our most valuable tools a person can use to learn about
    their earnings and future Social Security benefits.  A convenient way to access the Statement is
    by using my Social Security, where you can find a variety of useful tools and information,
    including our new fact sheets.

    We have added new fact sheets to accompany the online Statement.  The fact sheets are designed
    to provide clarity and useful information, based on your age group and earnings situation.  They can
    help you better understand Social Security programs and benefits.

    The fact sheets cover:

    • Retirement planning for four different age groups (Ages 18-48, 49-60, 61-69 and 70+).
    • Benefit information for:
      • Workers with non-covered earnings who may be subject to the Windfall Elimination Provision/
        Government Pension Offset;
      • Workers who are not fully insured;
      • Workers with an intermittent work history; and 
      • New workers.
    • Medicare planning.

    The fact sheets help educate workers about Social Security so they can make informed decisions
    based on their specific situation. 

    You can find all of the new fact sheets at www.ssa.gov/myaccount/statement.html.

    I encourage you to share this information with your members, colleagues, affiliates, and other
    interested parties.

    Sincerely,

    Jeffrey Buckner
    Associate Commissioner

    Office of Strategic and Digital Communications

    (T) 410-965-1804
    @SSAOutreach

    Produced at U.S. Taxpayers Expense


    Dear Colleague,

    We have created a new website, Information for People Helping Others, which provides helpful resources in one place for anyone in a position to help another person access our programs and services.  We are asking you to use the new website as a resource, and share it with those you serve and your extended network.

    As you know, the COVID-19 pandemic continues to cause hardships, especially for those who have historically relied on face-to-face meetings to get the help they need.  Over the past year, we have worked closely with you and other advocates to improve service to vulnerable populations.  We have also engaged Federal, State, and local agencies, as well as private industry, to help raise public awareness on accessing our services during the pandemic.

    With your continued help, we can ensure that the people most in need know about and apply for our programs.

    I encourage you to share this information with your members, colleagues, affiliates, and other interested parties.

    Sincerely,

    Jeffrey Buckner
    Associate Commissioner

    Office of Strategic and Digital Communications

    (T) 410-965-1804
    @SSAOutreach