Category Archives: Retirement Accounts

Individual Retirement Plans

One of the most popular personal, or individual, retirement plans is the IRA. There are several types of IRAs. The traditional IRA permits tax-deductible individual contributions, with certain annual limits, into a savings or investment account. Withdrawals may begin at … Continue reading

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Rules for Individual Retirement Accounts and Divorce

In a divorce, assets, which include cars and homes as well as savings, investments and retirement accounts such as IRAs, are typically divided equally between both spouses.  Care should be taken in the division of IRAs, however, because there are … Continue reading

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Divorce Over 50 Can Drain Retirement Savings

Many older Americans who split up will end up dividing retirement accounts at the end of the marriage. People live longer and social mores about divorce have relaxed, says Bari Weinberger, a family lawyer with the Weinberger Law Group in … Continue reading

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Retirement Plans Made Clear

A retirement plan, such as an IRA, 410(k), pension, annuity, or Social Security, is a financial account or agreement that provides monetary benefits after a person retires or reaches a certain age. Retirement plans fall into a few categories, including … Continue reading

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Boomer Splits – A Costly Retirement Roadblock

Divorcing in the so-called Golden Years can have enormous implications on a person’s retirement, yet Baby Boomers are doing it at a surprising rate.  Divorces among people 50 or older doubled from 1990 to 2010, and in that year, one … Continue reading

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Change Beneficiary Designations after Divorce

After a divorce, formerly married people must revisit their estate planning, including beneficiary designations, wills and trusts.  In particular, changes must be made to retirement plans in accordance with the rules set forth by respective employers because children and/or new … Continue reading

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Key Points About Retirement Benefits

The marital home and pensions are two of the most valuable assets a divorcing couple divides. Sometimes a spouse’s pension can be worth more than the value of the marital home. Pensions have what is known as present value, or … Continue reading

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Divorce and Social Security – Don’t Forget It

For many divorced people Social Security becomes very important. About half the people who marry in the United States divorce, and Social Security is the primary income for 72% of unmarried retirees. Many unmarried retirees become single because they are divorced. … Continue reading

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Women Need Good Pension Advice During a Divorce

That many women come out of a divorce worse off financially than they were when married has long been caveat in marriage and family law. A study by the Phoenix Group reveals that two out of every five women are … Continue reading

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