DIVISION OF COMMUNITY PROPERTY ASSETS AND DEBTS Sample Clauses

DIVISION OF COMMUNITY PROPERTY ASSETS AND DEBTS. The parties agree that the community property assets and debts shall be divided as follows: PETITIONER shall be awarded the following community property assets and debts as his/her sole and separate property and shall hold RESPONDENT harmless therefrom: Description of Property/Debt* Market Value Loan or Debt Net Value TOTAL AWARDED TO PETITIONER $ RESPONDENT shall be awarded the following community property assets and debts as his/her sole and separate property and shall hold PETITIONER harmless therefrom: Description of Property/Debt* Market Value Loan or Debt Net Value TOTAL AWARDED TO PETITIONER $ *A legal description must be attached for any real property. RETIREMENT BENEFITS □ XXXXXX OF RETIREMENT BENEFITS Based on □ PETITIONER'S □ RESPONDENT'S employment during the marriage with , during the marriage a community interest arose in the following plan: . Under the terms of this agreement, that entire interest, including the right to name beneficiaries other than the employee's spouse for death and survivor benefits payable under the plan, is being awarded to the employee-spouse. The non- employee spouse is informed that, under federal law or the terms of the plan, s/he may, but for this agreement, have become entitled to survivor rights or benefits payable by the plan. The non-employee spouse shall timely sign whatever documents, including but not limited to a stipulated Qualified Domestic Relations Order (QDRO), that may be required to implement her/his waiver of spousal rights in the plan, including whatever written consent to the employee spouse's designation of one or more alternate beneficiaries. This provision does not waive any right expressly provided in a trust agreement or beneficiary designation executed by the employee spouse after the effective date of this agreement. □ DIVISION OF RETIREMENT BENEFITS Based on □ PETITIONER'S □ RESPONDENT'S employment during the marriage with , during the marriage a community interest arose in the following plan: . The parties agree and will cooperate in the preparation of a Qualified Domestic Relations Order (QDRO) or retirement benefits order for each plan, which proposed order(s) shall set forth the respective community interests of the parties and govern the disposition of benefits upon qualification by the plan(s) based upon the time rule. The court shall reserve jurisdiction over the preparation of the order(s), and division of said retirement benefits.