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What can I do to avoid penalties for early withdrawal with an IRA Account in a DIVORCE CASE ?

Los Angeles, CA |

I am under age 59 1/2 ,and I am in a divorce process. Today, I received a court order in which the court divided my IRA's Accounts, and the IRAs of my soon to be ex-husband by 50/50. how can i get part of my spouse's IRA? What can I do to avoid penalties for early withdrawal?. My soon to be ex husband told me that I should wait until the divorce is over, is this true?, Or can i go to the bank with the court order to get my 50/50? (I have copy of the court order in my hands). how is the process to get my money? should i go with him to the bank or can i do it by myself, with the court order?

Note: all my IRAs accounts will be divide... so where should I transfer the money that I will get from his IRAs' accounts ?


Attorney Answers 4


This is a question for a financial advisor, not an attorney.

Attorney Williams practices FAMILY LAW throughout the State of California. The response provided in this forum is not intended to create an attorney-client relationship. The information offered in this response is for general informational purposes only and should not be relied upon without further consultation with a legal professional after all relevant facts are disclosed and considered. DANIEL S. WILLIAMS, ESQ. LAW OFFICES OF DANIEL S. WILLIAMS 500 LIGHTHOUSE AVENUE, STE. A MONTEREY, CA 93940 (831) 233-3558 -- OFFICE (831) 233-3560 -- FAX

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Speak with a CPA about opening an IRA and about a tax free rolling over of your husband's IRA into that account.

If this answer is helpful, then please mark the helpful button. If this is the best answer, then please indicate it. Thanks. For further information you should see an attorney and discuss the matter completely. If you are in the New York City area, then you can reach me during normal business hours at 718 329 9500 or

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You will need to use a QDRO (Qualified domestic relations order) to move these funds without penalty. You have to get the QDRO form to the administrator of the retirement account.

DISCLAIMER: NO ATTORNEY CLIENT RELATIONSHIP HAS BEEN FORMED. Please consult with an attorney licneced in your jurisdiction. This information is being provided for informational purposes only

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Interspousal transfer from one IRA to another avoids such penalty.

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