Getting Divorced? Consider Taxes When Splitting Up Retirement Accounts
Divorce is a major life event that can have significant personal and financial consequences. In addition to addressing family and emotional concerns, you'll need to determine whether your assets are divided equitably. When assessing the fairness of a divorce settlement, taxes are a critical consideration. In general, you can divide most assets between you and your soon-to-be ex-spouse without any federal income or gift tax consequences.