Legal Question in Family Law in New Jersey

Tax on retirement distribution to spouse

Hello,

If an IRA is transferred to a spouse pursuant to a divorce decree (ie it is in the Property settlement agreement), can I get stuck with paying taxes years later. The money is sent directly to spouse's IRA account. Can she put the full amount in a Roth IRA claiming I am giving her after tax dollars, and that I am responsible for any tax. The PSA states that she is to get retirement funds. How can I know what she has done with the money except years later?


Asked on 6/07/07, 2:19 pm

1 Answer from Attorneys
Gary Moore Gary Moore Attorney At Law

Re: Tax on retirement distribution to spouse

Your retirement funds are supposed to be rolled over to her IRA account so that there is no tax consequence unless the money is withdrawn. If she withdraws funds from her IRA she pays the tax on same.

Call me if you like.

Gary Moore, Esquire

Hackensack, New Jersey

www.garymooreattorneyatlaw.com

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Answered on 6/07/07, 3:42 pm


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