In divorce, retirement is at risk
Splitting a retirement plan in divorce often means tax problems. While matrimonial attorneys usually assist in the division of assets, 401(k)s, IRAs and other retirement plans require special handling since eventual distributions generally will be taxable. Unlike most other assets, retirement funds received are not worth face value once taxes are considered. That comes as a surprise when the tax planning is neglected or is not properly explained during the divorce negotiations. The tax details can easily fall through the cracks without proper professional guidance…Read More
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