What You Need to Know About IRAs and Your Divorce

There are a lot of things that you might be sure of right now, but one thing you will never be able to prepare for what to do during or after a divorce. It’s not only the emotional toll that would weigh on you after deciding to go through divorce – you have to think about your children, your properties and assets, how to tell your families, etc. There are so many things that you have to do, all while with a heavy heart. You can’t expect everything to just fall into place, you have to work through it all to get where you want to be.  IRAs Let’s focus on the part where you divide properties and assets, or to be more specific, the IRAs. Individual Retirement Accounts (IRAs) are investments to prepare you for the future. It can be classified into two:  Traditional IRA – wherein you deposit a part of your income into the plan tax-free up until the time you will be encashing it in the future. Only then would the future tax rate be…

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