Cover Your Assets – A Divorce & Money Podcast
Welcome to "Cover Your Assets," your podcast for navigating the financial side of divorce. Life doesn’t always deal you the best hand, but hosts Josephti Cruz and Jade Eagles are here to help you C-Y-A in every way—because when it comes to your assets, it's all about playing your cards right!
Cover Your Assets – A Divorce & Money Podcast
36. Divorce and the Tax Mistakes Most People Miss
Dividing assets in a divorce might seem fair on the surface, but taxes can quietly tip the scales. In this episode, we share why a Roth IRA is not the same as a 401(k), and why keeping the house might come with hidden costs later. We also break down child-related tax benefits, how to avoid penalties when splitting retirement accounts, and why your divorce decree needs to get specific. If you are negotiating a settlement, this conversation will help you cushion your financial future by thinking a few steps ahead.
Key takeaways:
- Equal numbers on paper do not always mean equal after-tax value
- The parent with more overnights usually gets the child tax benefits
- A QDRO can help avoid early withdrawal penalties when dividing retirement funds
Connect with us!
Divorce might be the end of one chapter, but it’s also a brand-new journey filled with hope and growth. Join us for practical tips for financial empowerment and insights to make this time a little less daunting.
Invite us on your journey at coveryourassetsdivorce.com.