Divorce Pitfalls When Dividing Variable Annuities

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An annuity is a financial product sold by an insurance company that allows money to grow tax-deferred for a period of time. In the future, the individual is then able to elect to receive a stream of future payments over the life of the owner or annuitant. Because of the way annuity contracts are designed, and the complicated tax implications, there are restrictions that you need to be aware of to avoid costly mistakes when trying to divide a variable annuity incident to divorce.

Donna Cheswick

CDFA® , CQS

Owner, Cheswick Divorce Solutions LLC

Donna M. Cheswick has over 35 years of experience in the financial services industry as a Financial Advisor. She is also the owner of Cheswick Divorce Solutions LLC, located in Southwestern Pennsylvania. Education is the backbone of her business, and over the years she has taught workshops and CLE's on a wide variety of topics relating to finance and divorce, authored numerous articles for local/national print and online publications and has been a guest speaker on a variety of podcasts. She is a CDFA, Certified QDRO Specialist (CQSTM), a trained divorce mediator and a collaborative financial neutral.