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.
Loan Assumption
Also known as name deletion, the process where one borrower takes over the existing mortgage of another, becoming responsible for the remaining loan payments.
Beneficiary Designations
Instructions on who will receive benefits from accounts like life insurance policies and retirement plans in the event of your death.
Certified Copy
An official document that verifies the finalization of a legal matter with an endorsement by the court, often a raised seal.
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.
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).
Encumbrance
Legal claims, debts or liabilities, such as mortgages or liens, attached to a property that may affect its transfer or value.
Plan Administrator
The entity or individual responsible for managing a retirement plan, ensuring compliance with regulatory requirements, and processing benefit distributions.
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.
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.
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.
