Avoiding mistakes when dividing IRAs in divorces
On behalf of Stange Law Firm, PC posted in Divorce on Thursday, May 17, 2018. When Missouri couples have IRAs and decide to divorce, it is important for them to make certain that they divide their retirement accounts correctly. If people make mistakes, they may face substantial tax liabilities from the Internal Revenue Service. When one spouse will need to give the other spouse funds from his or her IRA, it can only be done in one of two ways. The account holder can change the name on the account to the recipient’s name if all of the IRA will be transferred. The other way