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After that, you can start paying off any high-interest debt, such as credit cards — perhaps with money you receive as part of your divorce settlement. Start saving for retirement. From there ...
6. Failing to negotiate over retirement accounts. Retirement accounts, such as a 401(k) or a pension, can be major assets in a marriage and should be considered in the settlement negotiations ...
Going through a divorce can be one of the most difficult experiences you’ll ever experience. But it doesn’t have to ruin your financial future. There are certain steps you can take to protect ...
A qualified domestic relations order (or QDRO, pronounced "cue-dro" or "qua-dro"), is a judicial order in the United States, entered as part of a property division in a divorce or legal separation that splits a retirement plan or pension plan by recognizing joint marital ownership interests in the plan, specifically the former spouse's interest in that spouse's share of the asset.
A divorce settlement entails which spouse gets what property and what responsibilities once the marriage is over. "It deals with child custody and visitation, child support, alimony, health and life insurance, real estate, cars, household items, bank accounts, debts, investments, retirement plans and pensions, college tuition for children, and other items of value, such as frequent flyer miles ...
Division of property, also known as equitable distribution, is a judicial division of property rights and obligations between spouses during divorce. It may be done by agreement, through a property settlement, or by judicial decree. Distribution of property is the division, due to a death or the dissolution of a marriage, of property which was ...
Marital Property Settlements and Taxes. In all ordinary cases, spouses do not owe any taxes for property transfers due to a divorce. This is controlled by two sections of the law: U.S. Code ...
In the United States, marriage and divorce fall under the jurisdiction of state governments, not the federal government. Although such matters are usually ancillary or consequential to the dissolution of the marriage, divorce may also involve issues of spousal support, child custody, child support, distribution of property and division of debt.
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