Divorce can be a long process. Chances are, you’ve spent hours going through financial records and collecting documents. When you finally get your divorce judgment, you just want to relax and get on with your life. Not so fast! Critical financial housekeeping must be done before you can close the book on your marriage and turn the page and begin your new life.
Plan to spend some time after your divorce judgment updating your financial and legal documents to reflect your new status. Here’s a list of some of the documents that may require your attention after the divorce is done.
Beneficiary designations on life insurance, retirement accounts, 401Ks, pensions, annuities and bank accounts. This is particularly important as beneficiary designations supersede the directives in your will;
Power of Attorney;
Deeds and Titles;
Emergency contact numbers;
Spending some time getting your financial house in order will help avoid legal hassles and costly financial mistakes and allow you to stay focused on your future.