IRA SPLIT PRIOR TO FORMAL DIVORCE DATE

Submitted by Stuart Cameron on Tue, 2012-10-16 17:57

Can an IRA holder, split his IRA with his wife prior to formal divorce? If they can, what document would be acceptable?

Thanks as always for your assistance.



Submitted by Alan Spross on Tue, 2012-10-16 18:18

An IRA can only be split pursuant to a decree of divorce or separate maintenance that is provided to the IRA custodian. A formal separation can qualify as long as the court approved document provides for the split. In other words, a “transfer incident to divorce” cannot be done by informal agreement between the parties.

Submitted by Stuart Cameron on Tue, 2012-10-16 18:26

Thanks Alan

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