Thank you for joining me. My name is LaSheena Williams, and I am a Maryland family law attorney. My firm helps our clients take control of out-of-control domestic situations. Today we will be discussing what comes after the entry of a judgment of absolute divorce.
Dividing Personal Assets
It’s important to look at your marital settlement agreement and your judgment of divorce regarding how your assets should be divided. Sometimes the court orders that you must both meet and divide the assets up in person or you are allowed to pick up certain assets from the home. It’s important to understand what the terms of the agreement or the terms the Judgment of absolute divorce are regarding how those assets get divided so that you know what you can and cannot retrieve from the home.
Dividing Financial Assets
Some couples are very entwined when it comes to their financial accounts. They may have multiple bank accounts, checking accounts, multiple stock options, multiple retirement accounts, investment accounts, it is important to understand the terms of how those assets will be divided if any and when they should be divided. You want to always maintain any deadlines in your judgment of absolute divorce or your settlement agreement so that you don’t necessarily put yourself in a position where you may be held in contempt.
Dividing Retirement Assets
Dividing retirement assets is a tricky part of post-judgment asset distribution. You will likely need a qualified Domestic Relations order in dividing your assets. This is a specific type of order, that orders the retirement plan administrator to divide that asset according to the entry of judgment absolute divorce or according to the term of your marital settlement agreement. Most family law attorneys do not draft their own qualified Domestic Relations orders, however, seeking a qualified Domestic Relations order attorney should be a part of finalizing your divorce. Your attorney should have already spoken to you about what type of qualified domestic relation order you need, and they should have already guided you to referrals for qualified domestic relation order attorneys, so that those orders can be properly drafted and signed and executed by the court.
If you have any questions about dividing your assets following an absolute divorce or any other post-judgment issues regarding domestic matters, contact the Law Office of LaSheena M. Williams at (301) 778 – 9950 or leave an online request for a consultation.
