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Every state has different laws regarding Individual Retirement Accounts, or IRA's. In Florida, laws have been enacted that allow IRA's to be included in law suits provided certain conditions have been met. These conditions can be extremely confusing to the layperson, and thus, anyone dealing with such an issue is encouraged to seek official legal counsel.
What else can I help you with?
When was the IRA peace settlement?
The 1998 Good Friday Agreement.
How can I go about cashing out my IRA as part of a divorce settlement?
To cash out your IRA as part of a divorce settlement, you will need to obtain a Qualified Domestic Relations Order (QDRO) from the court. This legal document will outline how the IRA funds should be divided between you and your ex-spouse. Once the QDRO is approved by the court and submitted to the IRA custodian, you can proceed with cashing out your portion of the funds. It is important to consult with a financial advisor or tax professional to understand any potential tax implications of cashing out your IRA.
What is the impact of divorce on the Roth IRA 5-year rule?
The impact of divorce on the Roth IRA 5-year rule depends on the specific circumstances of the divorce settlement. In general, if a Roth IRA is divided as part of the divorce settlement, the 5-year rule for each spouse's portion of the account may be affected. It is important to consult with a financial advisor or tax professional to understand the implications of divorce on Roth IRA rules.
Can a wife be included on an IRA account of her husbands?
The wife can be added as a beneficiary. There can only be one name/social per IRA registration, thus Individual Retirement Account.
As a retired person is my pension and IRA fund subject to personal liability in case of law suit?
Unfortunately, yes, they are.
What has the author Jerome Ira Solkoff written?
Jerome Ira Solkoff has written: 'Florida elder law' -- subject(s): Legal status, laws, Older people
If you lose a civil suit can your IRA account be seized?
In general, IRA accounts are protected from creditors in the event of a civil lawsuit judgment. IRAs have certain legal protections under federal and state laws, although the extent of protection can vary. It's best to consult with a legal professional familiar with the laws in your specific jurisdiction for accurate advice.
What has the author Ira M Robinson written?
Ira M. Robinson has written: 'Canadian urban growth trends' -- subject(s): Urbanization, Cities and towns, Growth, Land settlement patterns, Urban policy
I am being offered a lump sum settlement from my pension ...in the amount of 118.000.00...I want to use some of it to pay off a 52.000.00 loan...what is the best way to get the settlement...with the least amount of taxes taken....thanks?
You can roll it over into an IRA that way it is not taxed until you draw from it. You can also take a loan out from the IRA with very low interest.
When did Ira Hanford die?
Ira Hanford died on November 21, 2009, in Ocala, Florida, USA of lung cancer.
Can I open a Roth IRA with work comp settlement money?
Yes, you can open a Roth IRA with money from a workers' compensation settlement, as long as you meet the annual contribution limits and income requirements for Roth IRAs. However, it's important to ensure that the funds are considered "earned income" for tax purposes, as Roth IRA contributions must come from eligible sources. Additionally, consulting a financial advisor or tax professional is recommended to understand the implications and ensure compliance with IRS regulations.
Can the mortgage company seize your IRA or annuity account in Florida?
My mother is 75 and is facing foreclosure on her property. She is concerned of what the mortgage company can seize of her personal property, especially her IRA, annuity and car. What are they legally allowed to take?
