Understanding the Implications of Dividing Retirement Assets in a Minnesota Divorce
For many divorcing couples in Minnesota, retirement assets represent the most valuable assets owned by the parties. In other words, most of the parties’ money is located in retirement accounts.
Survivor Benefit Plan: Former Spouse Coverage
If your ex-spouse is a member of the United States Military, you may have a marital interest in his/her retirement pay. When a military retiree dies, his/her retirement pay stops.
I Am Going Through A Divorce In Minnesota, Should I Stop Contributing To My 401K Plan Or Retirement Account?
This may not be the ideal answer, but it is a true one: it depends. In general, however, you should continue to contribute the same amount and the same percentage
Early Retirement Account Withdrawal
Generally, withdrawal of funds in your Traditional Individual Retirement Account (IRA) prior to age 59 ½ are called ‘premature’ and subject to an early withdrawal penalty of 10% unless an
How can divorce affect retirement accounts?
After the divorce process has started, most people only think about a few assets that will be divided between the spouses once the divorce is finalized. This usually includes the
Facts about retirement accounts during a Minnesota divorce
If a spouse earns retirement benefits during marriage, the other spouse has a marital interest in such assets. As a Minneapolis Divorce Lawyer, I’ve seen many misconceptions to believe that