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 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.
Certified Copy
An official document that verifies the finalization of a legal matter with an endorsement by the court, often a raised seal.
In-Kind Transfer
The process of transferring ownership of assets without converting assets to cash and potentially incurring taxes, and instead directly transferring the actual asset itself, such as stocks, property, or other physical items.
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.
Post-Divorce
Also known as post-decree, the phase following finalization of a divorce when the final resolutions are implemented.
Debt-to-Income Ration (DTI)
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).
Enforcement
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.
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.
