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.
Post-Decree
Also known as post-divorce, the phase following finalization of a divorce when the final resolutions are implemented.
Post-Divorce
Also known as post-decree, the phase following finalization of a divorce when the final resolutions are implemented.
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.
Appeal
In litigation, the process for a party to request review of the trial court's decision to a higher court if they believe legal errors were made or if they disagree with the outcome.
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.
Beneficiary Designations
Instructions on who will receive benefits from accounts like life insurance policies and retirement plans in the event of your death.
Assumption
Also known as name deletion, a process where one spouse takes over the existing mortgage, becoming solely responsible for payments, while keeping the original loan terms (e.g., interest rate, balance, maturity date). Lender approval is typically required, and not all loans are assumable.
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.
Loan Assumption
Also known as name deletion, a process where one spouse takes over the existing mortgage, becoming solely responsible for payments, while keeping the original loan terms (e.g., interest rate, balance, maturity date). Lender approval is typically required, and not all loans are assumable.
Plan Administrator
The entity or individual responsible for managing a retirement plan, ensuring compliance with regulatory requirements, and processing benefit distributions.
