Do I have to split my IRA in a divorce?

Do I have to split my IRA in a divorce?

If an IRA is to be split as part of a divorce, the split must be included in the divorce agreement. After divorce is final, forward the divorce agreement to the IRA custodian in order to process the division of IRA assets. The funds should be transferred directly to the ex-spouse’s IRA.

How are pensions split in a divorce in CT?

Pensions are not automatically split upon a divorce. It is crucial to remember that retirement benefits must be valued as a part of the divorce process. Connecticut law says that the benefits earned by a husband or wife during a marriage are considered marital property.

Is an IRA community property in Louisiana?

Under the usual community property rules, each qualified retirement plan or IRA that was acquired during the marriage would be treated as community property under Louisiana law. For example, for a qualified retirement account, the participant spouse would be the employee for whom the account is established.