What You Need to Know About a ROTH IRA in a Divorce
Written by Denise French, MAFF, CVA, CDFA, CRPC
Divorce itself is an emotionally charged, troubling process. Add major financial decisions to the mix and divorce can be a recipe for disaster. Litigants are forced to make life-altering financial decisions during a time of emotional turmoil. Anyone walking through a divorce knows this can feel like an insurmountable task. There is hope! You can do this!
Our next few articles will focus on different types of assets we see divided on a regular basis in divorce. We will discuss the different types of financial accounts, their tax benefits or consequences and their pros and cons.
The ROTH IRA in a Divorce
The ROTH IRA is a powerful financial tool which differs in many ways from a Traditional IRA or a Rollover IRA. The ROTH IRA can be used for a variety of needs sometimes without taxation or penalties. If you have a ROTH IRA to divide in your divorce you have potential access to a powerful financial tool.
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Author
Leah Hadley
Founder
I've been where you are today. Whether you are going through your own divorce or sharing information with a loved one, I've been there. I divorced after ten years of marriage and at the time, I had three young children (ages 3, 6, and 7). I also experienced the divorce of my own parents when I was 8 years old. Now remarried and dealing with the everyday challenges of co-parenting, I am passionate about making the divorce process as painless as possible for the whole family.
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