The divorce process can quickly become an emotionally turbulent and confusing time. The couple must focus on dividing marital property and shared debt while also developing a parenting plan when children are involved. Splitting one household into two futures can be a tiring, demanding event. Unfortunately, there are tasks that must be completed even after you think the divorce is finalized.
- Update your life insurance policy: While the divorce order might include certain provisions, you should ensure your life insurance policy reflects your current relationships. You can change your beneficiary or adjust the distribution percentage to match the judge’s order. In all likelihood, something will need to be revised.
- Update your medical insurance: Whether the family used insurance provided by your company or you used insurance provided by your ex, you will need to update your situation. This could mean contacting your human resources department or navigating the online menu system. Regardless, you should act quickly before you forget about it.
- Update your car insurance: Many couples today have two vehicles, but they are shared by both individuals. Make sure the car you are keeping only has your name as a driver. Conversely, make sure you are not on your ex’s insurance policy so he or she isn’t paying for unnecessary coverage.
- Update your retirement funds: This will likely come up during the negotiations surrounding property and debt division, but you must make sure that retirement accounts correctly reflect your changing status.
Additionally, you should take the time to update your social media accounts, change the login information on digital asset storage and explore bills you might be paying based on marital decisions. A cell phone plan, for example, might be revised to account for the drop in usage. It is wise to work with an experienced attorney who can provide guidance through these and other situations after your divorce.