Follow
Share

If you divorce a spouse with severe dementia. All his assets are in an IRA. I have been his caregiver for 4 yrs........through violence with guns and hallucinations. I am getting seriously sick and need to remove myself from this situations. Are they divided as assets ?

This question has been closed for answers. Ask a New Question.
Reading what was written about 31 years of supporting him, I could guess who has the larger IRA. This would be a big consideration. If this is the case, I might consider separation instead of divorce (depending on if you're interested in dating or marrying again).
Helpful Answer (0)
Report

Qualified domestic relations order. It's how IRAs etc get divided up.
Helpful Answer (1)
Report

Be guided by your divorce attorney. There is something called a QADRO (qualified something divorce something) that is set up to divide IRS and pensions,etc.
Helpful Answer (0)
Report

BTW, for divorces, you need a good divorce attorney, particularly if there is a sizable amount of money under consideration. A good attorney will be like a bulldog to the other side and an adviser to his/her own client.
Helpful Answer (0)
Report

What happens to assets often depends on how good the lawyers are. Ideally assets should be split equally. If one lawyer is willing to concede faster than the other, however, the split is often lopsided. Much also depends on which state you live in. IRAs. pensions, savings, social security and anything acquired during the marriage are considered in many states as being completely community assets with each spouse sharing an equal amount. Divorces tend not to work that way, however. Many times the side that was considered "in the wrong" or just wants out of the marriage ends up with the shorter end of the stick.
Helpful Answer (0)
Report

Well I think 33 yrs of marriage should qualify. of that 31 years I supported him totally.
Anyway thanks for the answers.....there is no Elder Law Lawyer in our area.
Helpful Answer (0)
Report

You would have too look at your family law in your state. in New Hampshire, IRAs are community property and are part of the property division. Depending on how long you have been married, will determine how things get divided. Spouses are no longer able keep pensions and IRAs away from their spouses in divorce settlements. Get a family law attorney that specializes in Elder Law and see what the best procedures are for your situation and your state.
Helpful Answer (1)
Report

No I was not thinking of taking the IRA. I just wondered if IRAs were exempt from the split of assets in a Divorce. I also have an IRA..........
Helpful Answer (0)
Report

An elder law attorney can help you navigate the system. What would be in his and your best interest. Before considering divorce to solely protect assets that you may think you are entitled to get a legal consultation. The IRA and anything else of his may be half yours, but anything of yours would also be half his. Be very careful with this. Another attorney could be consulted about Medicaid planning.
Helpful Answer (0)
Report

If you are thinking you can divorce him, take the IRA and let Medicaid pay for his nursing home, that won't work. Far better you get him to a NH and you stay at the home.
Helpful Answer (0)
Report

Yes ad Yes........
Helpful Answer (0)
Report

Looking back over your questions, I have two questions.

Have you found him another doctor?

Have you contact a lawyer who specializes in Elder Law, to discuss ways to pay for a nursing home?
Helpful Answer (0)
Report

This question has been closed for answers. Ask a New Question.
Subscribe to
Our Newsletter