Legal Question in Family Law in Massachusetts
IRA started after separation
I left a marriage after three years due to deceit and fraud. In a divorce action for irretrievable breakdown, will I have to divide my IRA even though it was started after the separation? We have not seen nor lived together for 10 years.
2 Answers from Attorneys
Re: IRA started after separation
Under these facts, the other spouse is not likely to have a strong claim for a share in the IRA. However, the cost of litigation is sometimes a factor I cite to clients in offering settlements. This is the "business decision." How much will it cost your lawyer to win? That may be as well spent on settling the case (not that I -mind- getting paid, but good advice includes explaining alternative ways to cut your losses).
Re: IRA started after separation
The attorney you retain to represent you in the divorce may be able to negotiate a divorce/separation agreement in which your spouse waives interest in your IRA perhaps in exchange for you waiving interest in a similar asset your spouse owns.
Otherwise, while it is technically a marital asset, an argument can be made that the marriage in reality ended after 3 years and assets acquired thereafter should not be considered marital assets due to the separation.
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