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.
Encumbrance
Legal claims, debts or liabilities, such as mortgages or liens, attached to a property that may affect its transfer or value.
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
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.
Modification (Post Divorce)
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.
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.
Qualified Domestic Relations Order (QDRO)
Also known as QDRO (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.
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.
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.
