Getting A Divorce? Understand the Rules Of Dividing Plan Assets

If you are going through a divorce or legal separation and you or your spouse own retirement plan assets, you will most likely be required to share these assets. In some cases, the assets may be awarded to one party. Whether you are giving up the assets or receiving them, you need to understand the rules that govern the asset division. Proper handling is critical in ensuring that the right party is responsible for paying applicable taxes. The type of retirement plan – that is, whether it is an IRA or qualified plan – determines the rules that apply.

Click here for an overview of these rules from investopedia.com.


Article Writen by: Divorce Without War March 26th, 2014

Posted In: Assets, Divorce

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