The divorce is final. This was a mediated divorce and both parties agreed with the terms. All asset transfers are complete. No part of the IRA need be transferred. The judge did not refer to this issue specifically. He spent about 3 minutes with us and asked us if we understood and agreed to the terms. The just answer website will not give me access to reply to you there. Thanks for digging into my question.
If I need to adjust child support, she will say I should have plenty of liquid money to pay her.
So if I understand correctly...
A direct transfer would provide a statement showing zero balance and a closed account for proof. But a 60 day rollover would provide the same proof plus a cash check. And the 60 day rollover technically meets the definition of liquidation, but the direct transfer does not. As long as the cash distribution is rolled to a new plan in 60 days, there shouldn't be tax or penalties. Do I understand your points correctly? Thank you.
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