Distributions
Strange question: A client ( age 63 ) was placed in an assisted living facility with alzheimer’s. His stay is currently being funded with an IRA account ( of his ) valued at $ 350,000.00. His wife has filed for divorce ( don’t ask ) and is requesting $ 175,000.00 from the IRA as part of the Divorce Decree. Is this an entitlement she & her lawyer can request? Are there State & or Federal that would prohibit such a move?
Permalink Submitted by Alan - IRA critic on Tue, 2017-11-14 04:44
Yes, they can request the transfer, but the court must approve a divorce decree. Hopefully, the court would take an interest in the client being adequately represented in the divorce proceedings.