Assett Distribution


#1

Dear obxwillis:

It is likely that if you owe your spouse a lump sum distributive award, that you can pay it from any source of funds you desire - including a loan or currently available sums. Be careful though - if you have negotiated for the distributive amount including your tax sheltered retirement accounts, make sure that you take into account your tax penalty for withdrawing those funds early. Best of luck.

Janet L. Fritts
Attorney with Rosen Divorce
4101 Lake Boone Trail, Suite 500
Raleigh, North Carolina 27607
RosenDivorce.com
919-787-6668

The response posted above is based upon the limited factual information made available and is not intended as a full and complete response to the question. The only reliable manner to obtain complete and adequate legal advice is to consult with an attorney, fully explain your situation, and allow the attorney sufficient opportunity to research the applicable law and facts required to render an accurate opinion. The basic information provided above is intended as a public service but a full discussion with an attorney should be undertaken before taking any action.


#2

My assett distribution is going to be a 40/60 split. Taking that into consideration, there will be a minimal upfront payout to my exwife. Do I have to pay her the amount with my accumulated assetts (ie IRA, stock option, company stock)or can I pay her that amount in a lump sum (via loan if I chose to do so).