Divorce often involves the splitting of major financial assets, and an IRA plan is, in some cases, a couple's largest single financial asset. Splitting an IRA in a divorce is not like splitting a home or other assets. Here are 3 important facts to be aware of.
While the death of a grandparent or a parent is very sad, if you do end up receiving an inherited IRA, do not just cash out the funds. It will cost you in income taxes if you do!