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Home / Opinion Digests / Family Law / IRA Withdrawal Penalty is Dissipation of Marital Estate (access required)

IRA Withdrawal Penalty is Dissipation of Marital Estate (access required)

A Hanover County Circuit Court says wife’s use of $17,180 from the parties’ IRA was for proper purposes such as payment for attorney’s fees, the children’s college expenses, car repairs and household expenses, but the $5,727 tax penalty she incurred for her early withdrawal of the IRA funds constitutes dissipation of marital assets for which ...

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