What does no fault state mean for divorce?
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What does no fault state mean for divorce?
California is a no fault divorce state, which means that the spouse or domestic partner that is asking for the divorce does not have to prove that the other spouse or domestic partner did something wrong. To get a no fault divorce, 1 spouse or domestic partner has to state that the couple cannot get along.
How do retirement accounts get divided in a divorce?
IRAs are divided using a process known as “transfer incident to divorce,” while 403(b) and qualified plans, such as a 401(k), are split under the “Qualified Domestic Relations Order” (QDRO). Many courts confuse this distinction by labeling both types of divisions as QDROs.
Is my wife entitled to half my assets?
They can be a common fear amongst people entering into a new relationship, that their new spouse may automatically become entitled to half of their assets. Just because you enter into a new relationship with a person, does not mean that person becomes automatically entitled to half your assets.
