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Davis's story exemplifies some of the perils of "gray divorce," which describes spouses separating after 50. ... For older couples, the splitting of retirement accounts—401(k)s, IRAs, pensions ...
If you're married, you and your spouse may both be making contributions to your respective 401(k) plans. While saving for retirement is always a good idea, when there are two separate 401(k) plans ...
Called "gray" divorce, those over 50 are leaving their spouses at twice the rate they did in the 1990s (and for those over 65, the divorce rate has tripled), according to a 2022 study published in ...
The Retirement Equity Act (REA) of 1984, signed into law by President Ronald Reagan on August 23, 1984, reconciled confusion over whether ERISA preempted state divorce laws, thereby preventing pension plans from complying with court orders giving a spouse a portion of the worker's pension in a divorce decree.
General Rule. The general rule in § 1041 (a) is that no gain or loss shall be recognized on a transfer of property from an individual to a spouse; [1] or a transfer of property to a former spouse if the transfer is incident to the divorce. This rule also applies on a transfer of property from a trust for the benefit of a spouse or former ...
Private international law. Family and criminal code. (or criminal law) v. t. e. Divorce in the United States is a legal process in which a judge or other authority dissolves the marriage existing between two persons. Divorce restores the persons to the status of being single and permits them to marry other individuals.
A 401 (k) match allows an employee to receive 'free' money from their employer for contributing to their retirement plan. The amount of the match can differ, and the employer contribution may be a ...
It will cost you money, but it can help you and your spouse work through any issues that retirement has brought up. What to read next Car insurance premiums in America are through the roof — and ...