Once your divorce is finalized, you can begin the process of transferring assets to/from your ex-spouse, as designated in your divorce decree. Please contact us here to initiate the division of assets process.
In order for us to complete a transfer from one Betterment account to another, we will need:
Original Certified Copy of Your Entire Divorce Decree
It should clearly identify the legal terms of your divorce, and you should also include all supplemental documentation ordering the transfer of your assets.
Supplemental documentation may include a QDRO, marital settlement agreement, and property settlement agreement. If you have any of these documents relating to your divorce, they must be sent to us along with your decree.
Note that all documentation must be court certified upon being received at Betterment.
A Signed Letter of Instruction
*To request a Letter of Instruction Form, please contact us directly, and we’ll be happy to provide you with the form instead of requiring you to create your own.
This letter must clearly state:
- The name of the ex-spouse to whom the assets are being transferred.
- The Betterment account number(s) from which the assets are being transferred.
- Account numbers can be found in your Settings under the “Accounts” tab
- The Betterment account number(s) to which the assets are being transferred.
- That you approve the transfer of a specific dollar amount or percentage of the account balance. Please note, if the letter specifies a percentage of the account to be transferred but does not include a percentage as of a certain date, we will use the balance of the account on the day the transfer is initiated once the paperwork has been approved by the Betterment team and deemed to be in good order.
- The signature of the owner of the original account from which the assets must be transferred.
- The document must be notarized. If the letter isn’t notarized we will not be able to accept it.
A Signed Letter of Acceptance
*To request a Letter of Acceptance Form, please contact us directly, and we’ll be happy to provide you with the form instead of requiring you to create your own.
This letter must clearly state:
- The name of the ex-spouse to whom the assets are being transferred.
- The Betterment account number(s) from which the assets are being transferred.
- Account numbers can be found in your Settings under the “Accounts” tab
- The Betterment account number(s) to which the assets are being transferred.
- That you approve the transfer of a specific dollar amount or percentage of the account balance. Please note, if the letter specifies a percentage of the account to be transferred but does not include a percentage as of a certain date, we will use the balance of the account on the day the transfer is initiated once the paperwork has been approved by the Betterment team and deemed to be in good order.
- It must be signed by the party receiving the assets.
- It should also match the details included in the Letter of Instruction.
The receiving party will also need to open a matching Betterment account type if they have not already done so. For example, if funds need to be transferred from a Traditional IRA, the spouse receiving those funds will need to open a Traditional IRA in their own Betterment profile. If funds in a taxable account need to be transferred, the spouse receiving those funds will need to have a taxable account open, with a matching allocation and portfolio strategy as well, in order to complete an in-kind transfer and limit capital gains.
To send us your documentation, please contact us here
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