Legal Question in Family Law in Maryland
Ruth IRA and 403B plan transfer
We are talking about divorce agreement. He agrees to transfer his 403B retirement plan and Ruth IRA to me. Can we do it right now or I have to divorce first? Can I do it by myself or I have to ask a lawer to do it? If I can do it by myself, how to do it?
Thanks.
2 Answers from Attorneys
Re: Ruth IRA and 403B plan transfer
You need specific language in your separation agreement. You also need a QDRO and/or
a direct distribution. Direct distributions are complex and involve Federal law. You are well advised to contact an attorney.
My fees for this type of work are reasonable where there are not major complications between the parties. If you would like to move forward, call me at (410) 799-9002 and leave a day and evening contact number.
Re: Ruth IRA and 403B plan transfer
If the plan allows direct transfer of ownership, the plan administrator should have forms for this purpose. If you're talking about transferring the distributions after his retirement, you need a special court order that is entered at the time of divorce. You should definitely engage a family lawyer to handle this for you.
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