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McCurrie McCurrie
& McCurrie, L.L.C.

680 Kearny Avenue
Kearny, NJ 07032-3010
Phone: (201) 467-4180
Fax: (201) 997-9567
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Food for thought on including investments in property division

Property division is one of the most complex aspects of developing a divorce settlement, especially for couples with assets other than savings or checking accounts. It's a good idea to examine these types of assets before deciding whether or not to include them in a marital property settlement.

A good way to get a handle on complex property division from the outset is making a detailed inventory of holdings. The inventory should include both joint and individual bank and investment accounts as well as stocks, stock options, bonds and even insurance policies. With inventory in hand, divorcing couples will be better equipped to create a fair and equitable marital property division.

Figuring out the exact property owned between the two divorcing parties is just the first point to consider. Couples should look at their retirement accounts and weigh the pros and cons of including them in a property division agreement. Both spouses can choose to either walk away with the funds in their separate retirement accounts or transfer some of the assets between them.

It's important to note that certain retirement accounts are subject to specific tax laws and other requirements in the event of divorce. For instance, individual retirement accounts require a court-approved legal separation agreement or divorce decree indicating how the accounts are to be split between the two spouses.

It's important to be diligent about the details surrounding the assets and to complete any necessary follow-through. Dividing investment accounts during a divorce can be quite complicated, but financial and legal advisors can help take the confusion out of dividing marital property equitably.

Source: Wall Street Journal, "If Divorcing, Divide Investments With Care" Lisa Ward, Apr. 06, 2014

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