Is a Divorce Really Over When it is Finalized?
Once a divorce is final, there are many steps we recommend our clients take to ensure all aspects of life are covered. Although some steps will be outlined in a Marital Settlement Agreement, the topics below will guide you in moving past a divorce.
Dividing Retirement Accounts
A Qualified Domestic Relations Order (QDRO) is a legal order dividing a 401k and many pension plans, and the terms of the division are stipulated in your Marital Settlement Agreement. An attorney should help finalize this process as you will need to go back to court to get the QDRO entered. When dividing an IRA, an attorney can also help to prepare a letter of direction, should there be any questions.
Child Support or Spousal Maintenance Issues
If you are not receiving payments or if an ex is not contributing to expenses or following your judgment, reach back out to your attorney.
It may be discouraging, but a lawyer will be able to help ensure that the terms of your agreement are being followed. Depending on the issue at hand, your attorney may require you to open a new “Post-Decree” matter for the case.
We highly recommend revisiting estate plans following a divorce as goals and interests have likely changed. In revisiting the plan, you may need to rewrite your will which will help to organize your deeds, titles and records. We have many estate planning attorneys we can recommend.
Quit Claim Deed
Often times there can be a transfer of real estate following a divorce. You may need to execute a Quit Claim Deed to transfer the title to you or your ex-spouse. It is a fairly simple process, but an attorney can help execute the deed to ensure it is finalized per the terms of your Marital Settlement Agreement.
For questions and resources specific to your situation, contact Kogut & Wilson today for a free confidential consultation.