Retirement Plan Advice & Rollovers

Often, a party in a divorce will receive assets that are held in their spouse’s retirement plan, such as a 401(k) or 403(b) plan.  This receiving spouse is referred to as the “Alternate Payee.”  Our affiliate Divorce On Your Terms, Inc. drafts Qualified Domestic Relations Orders (QDROs) that provide for the legal transfer of these funds and many clients have questions about their options and how they should manage them.

shutterstock 87483436Retirement plans provide investments to company employees and they may extend the opportunity for their spouses to remain in the plan after the divorce is final.  But should you consider rolling those assets into your own Individual Retirement Account (IRA)?  

PTM Wealth Management’s advisory and rollover services address the following issues:

  • Can you remain in your ex-spouse’s retirement plan?
  • What are the benefits to you of staying in the plan?
  • What are the investment options and their costs?
  • What are your immediate and future cash flow needs?
  • Should you take control of your assets by rolling them into an IRA, and what would be your options and costs?
  • What are the benefits of establishing an IRA to rollover your account balance as opposed to taking an immediate distribution?
  • Overall, what is best for you?

We can help compare options and benefits to each approach, and help you develop a plan for financial success post-divorce.  We can also help you understand how to minimize or eliminate taxes as they relate to retirement plans.  Contact us at (855) 786-9584, option 1 or at admin@ptmwealth.com for a complimentary no obligation review of your post-divorce retirement account options.