McCoy Fatula, APCMcCoy
Fatula
Located in Roseville, CA
916-945-2780

Property Division Archives

Splitting retirement accounts as part of property division

At the end of a marriage, many couples will be faced with the question of how to separate various types of savings accounts. If spouses have been married for a long time, they may have spent significant time and effort with each other stashing away funds for the impending time of retirement. It is also possible that one partner has focused more heavily on household management while the other earned the lion's share of the income. In California, this doesn't necessarily mean that the higher-earning partner will get to keep all the property in his or her name. 

Property division: how to split IRA funds in a divorce

Splitting up assets in a California divorce can be a complicated process. When dealing with major assets, such as a home, decisions need to be made that will be fair and equitable to all parties. For many couples, their largest asset is an IRA plan. Property division issues must be addressed to avoid potential penalties or taxes. Financial advisors recommend understanding all the tax implications before splitting the funds in an IRA.

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