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Financial Guide To Navigating Life’s Changes

In Wealth by Chauncey Minnick

The only constant in life seems to be change, and navigating the way forward can be confusing and complex.  Divorce and splitting of financial assets can be one of the most challenging changes in life, however with a little planning, preparation, and a few financial tips you can avoid mistakes and gain some peace of mind. Spitting Investment Assets It might seem like your primary residence is the biggest asset in a divorce, but don’t overlook investment accounts like 401ks, Traditional and Roth IRAs, etc.  These accounts can hold hundreds of thousands of dollars, and serious financial implications if divided incorrectly.  First, 401ks and other tax-deferred accounts should be specified in a proper legal documentation prepared by your family law attorney.  Second, IRAs can be transferred tax-free through IRA to …