Liquidating assets divorce updating an ibook
The owner continues to direct the investments in the account that is being accessed under Section 72(t) just as they do in an IRA or 401(k) that is not being accessed.The owner does not need to use all of their IRA or 401(k) assets.Family Code §1101 grants family courts authority to order the sale of assets if the sale is in the best interest of the community and consent has been arbitrarily refused or cannot be obtained due to some incapacity of the non-consenting spouse.Under this code provision, the “community” consists of the collective interests of the parties with respect to all the property they acquired during marriage.Here are four ways to get the money while avoiding the penalty tax.
For the sake of simplicity, Im going to use the term 401(k) in this article for all employer-sponsored plans.
Contact the Law Offices of Nancy J Bickford if you may be considering a divorce from your spouse, a legal separation, or have questions regarding family law in San Diego. Bickford is the only attorney in San Diego County representing clients in divorce who is a Certified Family Law Specialist (CFLS), and who is actively licensed as a Certified Public Accountant (CPA).