Pensions and retirement accounts are often an integral part of an Estate Plan.
In a recent Squared Away blog (February 17, 2015) titled “Breaking Up (the Pension) is Hard to Do” (http://squaredawayblog.bc.edu) the topic of divorce and retirement/pension plans is covered with insight.
The blog references Howard Phillips a Florida actuary and author of “Dividing Retirement Assets in a Divorce”. It explains about dividing 401(K), 403(b) and IRA accounts using methodology terms such as “tracing accounts”, “subtraction”, “coverture”, “carve-out” and “values offset” among other terms.
When divorce is imminent and review of an existing Estate Plan is advisable, pensions and other retirement accounts require careful consideration.
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