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.
Post Divorce Division of Other Assets and Liabilities
Review considerations and tips for dividing assets and liabilities after divorce, like bank accounts, investment accounts and debts.
Name Change
The legal process of changing your name after a divorce, which involves updating your name on all legal and personal documents such as your Social Security card, driver’s license, and bank accounts, often using a certified copy of the divorce decree.
Loan Term
The length of time over which the mortgage must be repaid (typically 15 or 30 years); a refinance typically restarts the term while a loan assumption maintains the current term.
Warranty Deed
A legal document that guarantees the grantor has clear title to the property and the legal right to transfer it, providing assurances against any future claims or encumbrances.
Indemnification Clause
A legal provision in a divorce decree stating that the spouse retaining the home will protect ("indemnify") the other from any financial or legal harm related to the mortgage; this clause does not remove the non-retaining spouse from the loan in the eyes of the lender.
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.
Loan Modification
A change made to the terms of an existing loan by the lender, sometimes considered as an alternative to refinancing, though not a common divorce solution and not to be confused with a loan assumption or refinance.
Refinance
The process of replacing an existing mortgage with a new one, typically done in divorce to remove a spouse from the loan, pay off the existing balance, and possibly extract equity for a buyout.
Notice of Entry
A document or court order provided to the parties of a legal matter saying that the final judgment of the divorce has been entered and is now final.
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.
