How do I get the money from my exwifes IRA, that I won in a divorce settlement. Live in N.Y.?

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How do I get the money from my exwifes IRA, that I won in a divorce settlement. Live in N.Y.?

2007-08-15 14:06:53 · 2 answers · asked by gmh109 1 in Business & Finance ➔ Personal Finance

2 answers

You need to contact the administrator of the account with a copy of the court order or divorce decree. You are allowed to do a tax-free direct transfer of the part of the IRA you are entitled to into an IRA account under your name. See pg 28 of IRS publication 590 (http://www.irs.gov/pub/irs-pdf/p590.pdf)

2007-08-15 15:02:40 · answer #1 · answered by aj485 5 · 0⤊ 0⤋

What did your lawyer tell you?

You may not be able to access that IRA money till you or your ex-wife reach 59-1/2 without a 10% penalty for early withdrawl.

2007-08-15 21:29:50 · answer #2 · answered by bdancer222 7 · 1⤊ 1⤋