Five Things To Do After Your Divorce
May 7, 2014
Once you’ve attended the final hearing and the Judge has signed your divorce decree, it can feel like a huge relief. You may be ready to get back to your life without court dates and documents. However, there are some important things that need to be addressed post-divorce. Here are five things you should do after your divorce is final:
1 – Update your beneficiaries. This includes life insurance, disability insurance, retirement accounts, and estate documents. The divorce decree will not do this automatically. You should review your policies and ensure the proper beneficiaries are named.
2 – Transfer assets as ordered. This includes deeds to real estate, titles to cars, designations on bank accounts, and designations on investment accounts, to name a few. However the property is divided in the separation agreement or divorce decree, it is your responsibility to sign over any deeds or titles as soon as possible.
3 – Keep current with alimony or child support payments. If you do not stay current, not only will it land you back in court, but other actions may be taken. For example, failure to pay child support could result in the IRS keeping your tax refund, or the DMV suspending your license.
4 – Contact your children’s school. Send a letter to your children’s school notifying them of your address (if it is different from the children) and requesting that copies of all correspondence, including report cards, be sent to you.
5 – Notify all organizations regarding your name change. If you have opted to change your name post-divorce, you should change your name on your social security card, your driver’s license, your passport, your employer documentation, and anyone else who needs to know.
The break up of a marriage is a life-changing event. Be smart and responsible in your divorce transition planning. This is your new start, so seize the opportunity for future stability and security!