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.
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.
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.
QDRO
Also known as Qualified Domestic Relations Order and 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.
Underwriting
The lender’s process of evaluating a borrower’s financial profile (income, debt, credit) to decide whether to approve a refinance or assumption.
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.
Encumbrance
Legal claims, debts or liabilities, such as mortgages or liens, attached to a property that may affect its transfer or value.
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).
Modification (Post Divorce)
A formal legal change to part of the original divorce decree, such as parenting time or support, which often requires a court filing and is typically based on a substantial change in circumstances.
Indemnification
A legally binding agreement in which one party agrees to compensate the other for any loss or damage incurred, often used to protect against financial liability.
Post Decree Dispute
Also known as post divorce decree, a conflict or legal issue that arises after the divorce has been finalized and the court has entered a decree; these may involve parenting, support, property division, or enforcement concerns.
