Friday, May 23, 2014

Things to remember post-divorce

While it may sound like the divorce process is over once the Final Decree of Divorce has been entered, there are a few things you still may need to get done.  Here's a brief list of some of those things:

1.  Update your insurance.  This includes making sure you and, if applicable, your children have adequate health insurance.  Your ex-spouse may be required to carry health insurance for your children or you may be required to carry it.  Either way, you need to update your insurance to make sure you are covered.  This also includes life insurance.  Update your beneficiaries and let your life insurance company know about your divorce to ensure your records are still valid. 

2.  Update your Pay On Death records.  This could include stocks, bank accounts, etc.  Make sure anything you have designated to be disbursed to your husband upon your death is updated and the companies are informed of the divorce.

3.  Update your titles.  This could include the title and mortgage on your home, your car, your boat, etc.  Make sure the documents are executed to separate the property. 

4.  Look at your finances.  Your financial picture has probably changed significantly as a result of your divorce.  Do you have adequate retirement plans in place?  It may be smart to meet with a financial advisor to make a long-term plan for you to be financially stable. 

This list is non-exclusive and you should talk with your attorney about all of the steps that need to be taken post-divorce to ensure everything is in order and you are independently stable.  If you are contemplating divorce, going through a divorce or are recently divorced and would like a consultation, please contact us at (804) 447-0146 or clbaudean@baudeanlaw.com.