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 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.