Patricia L. Brown & Associates
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February 2013 Archives

Divorce and the Management of Tax-Favored Retirement Accounts (cont'd. IRA)

In a divorce, you don't need a QDRO to divide up an IRA between you and your soon-to-be ex without dire tax consequences. You can simply arrange for a tax-free rollover of money from your IRA into an IRA set up in your ex's name. Then your ex can manage the rollover IRA and defer taxes until he or she begins taking money out of the account.

Divorce and the Management of Tax-Favored Retirement Accounts

If you are getting a divorce, and have a qualified retirement plan at work-such as a 401(k) plan-or a self-employed or small-business retirement program, such as a simplified employee pension plan (SEP). You'll probably have to divide up your retirement account (or accounts) between you and your ex as part of the divorce property settlement. However, doing it carelessly can create a real tax fiasco for you.

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