A qualified domestic relations order (QRDO) is the method through which a retirement plan is divided in the event of a divorce. It provides the terms in which a retirement plan administrator should divide and pay plan proceeds. It is a separate order from the divorce agreement itself.
It is quite easy to get caught up in the excitement and anticipation of starting a new family business when your marriage is going great, the kids are happy, you are financially secure and the two of you just bought your new dream home.
When military spouses divorce, ongoing benefits for the non-service member and children pose some concerns. In answer to those, Congress enacted the Uniformed Services Former Spouse Protection Act (USFSPA).
The state that a couple resides in will have a major impact on the manner in which assets can be distributed in a divorce. There are two types of marital property laws a state can fall under: common law property and community property.
Property division can be complex during the divorce process so it is helpful to know what different types of property will be involved and what the legal categories of property are. Property division is a necessary process divorcing couples must go through during divorce and legal resources are available through the family law process to help.
Alimony can be requested by either spouse and can be important to both spouses. Because of how important alimony is, it is important for divorcing spouses to understand the alimony process and what types of alimony may be available.
When couples are considering divorce, their number one and number two concerns are likely their children and property division concerns. Property division concerns likely extend to what will happen to a marital home during the property division process.
Property division during divorce is never fun but it does not have to be a difficult or painful as some divorcing spouses may envision or anticipate it being. The family law process provides ample legal resources to help with the property division process but also to help divorcing couples negotiate their property division settlement agreement and resolve any disputes that many come up during the process.
Knowing how property will be divided during divorce, and knowing what to anticipate, can help divorcing couples better plan for the property division process and prioritize their needs and concerns related to it. To begin with, divorcing couples in Massachusetts should understand that Massachusetts follows equitable division property division rules during divorce which calls for a fair division of property.
There are many divorce-related issues couples will need to resolve during their divorce but if you are seeking alimony, you may wonder how you can get it. There are different types of alimony and understanding what those are can help divorcing spouses determine if alimony will be granted.