Question:
My ex-wife and I divided our retirement accounts in a manner that was approved by the divorce court.
Even though the final asset division accounted for two retirement accounts (one for each of us), my ex-wife was assigned her portion of the assets through only my IRA account.
Do I need a Qualified Domestic Relation Order to transfer money from my IRA to my ex-wife?
Answer:
Since I am only licensed to practice law in Wisconsin, I can only provide you with general divorce help for men to your divorce laws question.
Given the facts provided, I believe you may have taken all the necessary steps and the account should be divided without the need for a Qualified Domestic Relation Order.
Individual Retirement Accounts (IRAs) are one of the few retirement accounts that do not require Qualified Domestics Relation Orders to be divided. As opposed to a 401(k), an IRA is individually created and funded through a financial institution.
Financial Advice On Divorce:
Typically, your bank will have specific forms to effectuate an IRA division. I would contact your local branch for more information.
Remember, I am unable to provide you with anything more than divorce tips for men, so please consult with a divorce lawyer in your jurisdiction.
Cordell & Cordell has men’s divorce lawyers located nationwide. To schedule an appointment with a divorce attorney, including Milwaukee Divorce Lawyer Daniel Exner, please contact Cordell & Cordell.
