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.
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.
Underwriting
The lender’s process of evaluating a borrower’s financial profile (income, debt, credit) to decide whether to approve a refinance or assumption.
Poste Decree Dispute
Debt-to-Income Ration (DTI)
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.
Interest Rate
The cost of borrowing money, expressed as a percentage of the loan amount.
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.
Plan Administrator
The entity or individual responsible for managing a retirement plan, ensuring compliance with regulatory requirements, and processing benefit distributions.
Alternate Payee
An individual, usually a spouse or former spouse, who is granted the right to receive a portion of the benefits from a retirement plan under a Qualified Domestic Relations Order (QDRO).
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.
