Divorce, property settlement, IRA, Tenants by Entirety

[Skinsfan]

I'm going through a divorce.

For the property settlement, is it okay for my spouse to give me money from her IRA and for me to give up my interest in our primary residence? The primary residence is currently held 'tenants by the entirety", if that matters.

Would the trustee want to see the property settlement? For example assume I file for bankruptcy six months after the divorce. I would have no real estate and all assets would be in exempt accounts.

Just your opinions, thanks.

[Mensa1]

That should work... I am assuming that when spouse transfers part of IRA funds to buy your interest in real property that the funds will go into an IRA for you...? If so, you should have no problem with the above proposal.

In fact, the biggest problem that I see is that you are a Skins fan..... geesh.

[SunshineGal]

I would talk to a bk attorney prior to any marital agreement.

[Skinsfan]

I will, thanks. And thanks, Mensa. Believe me, you don't want to be a skinsfan!! It sucks.

[dh7448]

Only thing worse is being a Cowboys fan this year!