Getting divorced is a significant financial transaction that can have serious tax implications, especially if you have retirement accounts. When funds are taken out of a spouse’s account to be transferred to the other spouse, the money must be placed in that spouse’s retirement account to avoid immediate taxation. If this is not completed within [...]
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‘Retirement’ Category
Your social security benefits can provide income for your spouse. At the same time, you keep working or increase the support of an ex-spouse in a divorce. For example, a Homemaker with minimal social security in his name can benefit from his wife’s social security earnings. Or a divorcing spouse could share in her former [...]