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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.
After paying off liabilities like a mortgage and a home equity loan or line of credit (if there is one), the remaining equity is typically split between the couple according to their divorce ...
The Uniform Marriage and Divorce Act §307 (UMDA §307) [3] also allows for the equitable distribution of property and lists factors the court should consider, e.g. "the duration of the marriage, and prior marriage of either party, antenuptial agreement of the parties [which is the same as a prenuptial agreement or premarital agreement], the ...
Although the emotional impact of separation is similar to that of divorce, [3] some argue that a temporary separation may also occur to enhance the marriage as a tool to stay together. Some experts regard a six-month separation as a good amount of time for a temporary separation, since it is long enough to set up a second household and gain ...
Offering her own experience as an example, Orman said she and her partner haven’t opened one joint bank account in their 20-year relationship. “She has her money; I have my money,” she ...
4. Other mortgage options after divorce. There are a few other mortgage options that may be worth considering amid a divorce. For instance, it is possible to keep the mortgage as-is, but this ...