The Motley Fool Discussion Boards
Investing/Strategies / Retirement Investing
|Subject: Re: IRA Stocks after DIVORCE||Date: 8/6/1999 1:24 PM|
|Author: RobinB||Number: 12897 of 73906|
In order to move the money you need to open an IRA someplace. It can be at a discount broker or at a mutual fund company or where ever you want. Once the account is open you will need to provide the custodian with a copy of the QDRO. Your custodian will then contact the custodian where the money is at (whether it's in a 401(k) or an IRA). Then the current custodian will send money or shares of stock to your custodian. This is called a transfer between custodians. Once the money is in your account and it's yours. You can invest it however you wish.
However, there is one thing that you can't do, and that is if the money is coming from your ex's 401(k) or other type of qualified retirement plan, you can not roll it into any qualified plan you may be a part of. But, other than that you can invest it anyway you wish in your IRA.
|Copyright 1996-2013 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|