It’s not uncommon for divorcing couples to have reached a
final decree that makes the divorce official, but to still have assets that are
not fully divided. If you or your spouse have a work-sponsored 401(k),
ownership of company stock, or shared real estate or investment property, there
are a handful of steps you’ll have to go through in order to ensure the assets
become fully divided.
An attorney can help you first secure a qualified domestic
relations order, which can help you divide the 401(k). If your spouse is the
holder of the 401(k), you can then roll that money into an IRA, where it can
maintain its tax-deferred status.
Likewise, the order can help you sell or divest your
interest in your ex-spouse’s stock with his employer, and may help you secure
any interest in equity you might have in shared real estate or banking
accounts.
Beware that in addition to any potential maintenance or
child support payments you may be receiving, that you should plan to budget
your finances to ensure you have enough for emergencies and to ensure you are
planning for the future. An attorney may help you in this endeavor, or he or
she may be able to provide you with a reference for a financial planner.
In addition, there are a variety of helpful websites and articles
on this topic that may provide examples of how you might plan best for your
life post-divorce.
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