By 2030 gray divorces are projected to triple, according to studies by Bowling Green State University, which, in 2012, found that even divorce rates for couples over 65 had more than doubled in the late 1990s through early 2000s.
A divorce prenuptial or postnuptial agreement can make the complex — and painful — process of dividing retirement assets between wealthy older spouses less crushing. Critical to these couples is how to split up their 401(k)s, IRAs and pensions.
In this excellent interview with Renee Hanson, an Ameriprise Financial private wealth advisor explains, for starters, the difference between sole and separate assets and marital assets. In the interview Hanson teases out the intricacies of splitting up a 401(k) account as well as an individual retirement account, including the tax implications. She also covers the division of a pension in divorce, inherited IRAs and other gifts, and when to bring aboard a forensic accountant.
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