As mentioned above, those who understand the general rules of how plans are divided are better prepared to assess whether they get or retain what they should. Nonparticipant spouses have the right to obtain complete information about all retirement plan balances or account balances that the other...
IRAs are governed byInternal Revenue Code section 408. In order for the transfer of an IRA from one spouse to the other to be nontaxable, the transfer must be made pursuant to a divorce or separation instrument. After the QDRO is accepted by the plan, the defined contribution plan asset i...
It is entirely possible to obtain a legal separation without hiring a lawyer. Most state and/or county courts have the necessary separation petition forms available for free on their websites. You and your spouse must complete all the necessary forms and submit them to the court clerk.9 ...
One advantage of receiving a lump sum pension is that it allows retirees to have control over their retirement funds. They can decide how to invest or use the money according to their financial goals and needs. Some retirees may choose to invest the lump sum in other assets, such as real ...
Given the power of inflation, to neither max out your 401(k) nor invest an additional 20%+ of your after-tax income if you don't have a pension is risky. When it comes to your money, it's always better to end up with too much than too little. ...