Divorce settlements generally include provisions for whether ex-spouses are entitled to any 401(k)assets, in keeping withthe rules of each spouse's plan.5Unmarried account holders should name a beneficiary to receive the account funds.4 The beneficiary options for a 401(k) are the same as a...
Individual retirement accounts (IRAs)are generally not covered in yourwill. So when you open an IRA, you should complete a beneficiary designation form. This form names the person or people who will receive your IRA and in what proportions. You can amend the form at any time, but whoever i...
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Understanding how pensions work and what options are available to you can help you make informed decisions about your retirement savings. In this article, we will explore the different types of pensions, the concept of pension vesting, and what happens to your pension when you leave a job. We...
division of assets(e.g., property, investments, retirement funds) Additionally, some couples may find that they are not willing to even agree on whether or not to get a divorce. A contested divorce is the most complicated type of divorce. They can cost a significant amount of money, time...
"Take Back Retirement" 49: What Women Need to Know About Divorce from a Forensic Accountant with Tracy Coenen (Podcast Episode 2022) - Movies, TV, Celebs, and more...
A divorce can mean new beginnings. It can also mean new tax implications. CPA and TurboTax tax expert Lisa Greene-Lewis has the divorcee's guide to filing taxes after this major life event.
it’s essential to consider what happens to your life insurance. Life insurance is designed to provide financial protection for your loved ones in the event of your death. But as you reach retirement age, you may be wondering if your life insurance needs change or if you should continue carr...
One spouse keeps the house, and takes less of a retirement distribution or other marital asset in return. If you choose to refinance the home in order to buy out your ex: Can a house sale be forced in divorce? Sometimes, a divorce decree states that the house must be sold in order to...
The whole payment received each month from a qualified annuity is taxable as income (since income taxes have not yet been paid on these funds). Qualified annuities may either come from corporate-sponsored retirement plans (such as Defined Benefit or Defined Contribution Plans), Lump Sum ...