A prenuptial agreement, also called a premarital agreement or a prenup for short, occurs prior to a marriage.
A postnuptial agreement, also called a postnup, is entered into after the marriage has taken place.
In either case, both spouses determine the parameters of the agreement, and come to a clear understanding on the division of assets, debts and other marital obligations in the event of a divorce or death.
A qualified domestic relations order, or QDRO for short, is a legal order, entered as part of a divorce or legal separation, that splits and changes ownership of a retirement plan to give the divorced spouse their share of the asset or pension plan.
QDROs apply only to employee benefit or pension plans subject to ERISA, the Employee Retirement Income Security Act, the American law governing private sector pensions.
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