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Legal Articles

Can you divide retirement accounts in divorce without tax penalties?

There is a common perception that divorcing spouses must liquidate retirement accounts for the purpose of splitting up property, and consequently accept the tax consequences for early withdrawal, which robs account owners of the tax advantages that make things like individual retirement account (IRAs), 401(k)s and other accounts popular vehicles for retirement savings in the

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Protecting Assets in a Divorce

Divorce is as much a financial blow as it is an emotional one. Alimony and child support may take a large, even unreasonable amount out of your monthly paycheck. Conversely, if your income is much smaller than your soon-to-be-ex-spouse’s, or if you stayed at home to look after the family, you might find yourself in

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Pre-marriage business becomes marital property

Generally, marital property is property acquired by either spouse during the marriage. On the other hand, premarital property, owned by a spouse before the marriage, is considered separate property and isn’t split up during a divorce. Sometimes the lines get blurred, especially if you don’t keep your separate property truly separate, as a South Carolina

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