After the Divorce
Once you are divorced, there are often post-divorce tasks to complete. Whether you are implementing the agreements or addressing post-divorce disputes, learning the basics (and what you can do on your own) will prepare you and may save you time and money.
Post Divorce Introduction
Learn about steps and tasks that need to be completed to implement the agreements outlined in the decree after the divorce is final.
Post Divorce Transfer of Real Estate
Learn the steps, considerations and potential challenges with transferring or handling real estate after a divorce is final.
Post Divorce Division of Retirement
Learn the procedures and legal requirements to divide each type of retirement account to facilitate a smooth transition and compliance with the divorce decree.
Participant
An employee or former employee who has accrued benefits in a retirement plan and is entitled to receive those benefits upon retirement or another qualifying event.
Loan Assumption
Also known as name deletion, the process where one borrower takes over the existing mortgage of another, becoming responsible for the remaining loan payments.
Plan Administrator
The entity or individual responsible for managing a retirement plan, ensuring compliance with regulatory requirements, and processing benefit distributions.
Beneficiary Designations
Instructions on who will receive benefits from accounts like life insurance policies and retirement plans in the event of your death.
Lien
A legal right or claim against a property by a creditor or a party owed a settlement to secure the payment of a debt or obligation, remaining until the debt is satisfied.
Indemnity Clause
A contractual provision in which one party agrees to compensate the other for any loss or damage incurred, often used to protect against financial liability.
Quit Claim Deed
A legal document used to transfer ownership interest in a property without providing any guarantees about the title's validity or freedom from encumbrances, often used in a divorce because of the familiarty and trust between the parties.
Post-Divorce
Also known as post-decree, the phase following finalization of a divorce when the final resolutions are implemented.
Certificate of Dissolution
An official document issued by the court that formally ends a marriage, confirming the legal dissolution of the marriage and often including basic details like the date of the divorce and name change.
QDRO
Also known as Qualified Domestic Relations Order and pronounced "quadro," a legal order following a divorce that is required to divide ownership of a qualified retirement plan (such as a pension or 401k) to give the divorced spouse their share of the asset or pension plan.
