Things To Consider Once the Divorce Is Final

by Michael D. Larsen

  1. Prepare and record appropriate deeds evidencing how you and your ex-spouse will hold title to the family home and any other real estate.
  2. Take care of any other transfers of property, such as vehicles.
  3. Update your insurance policies: health, life, disability, automobile and so forth. This includes updating who the “insureds” are and who the “beneficiaries” are.
  4. Update your beneficiary designations on your retirement accounts, such as your IRAs, and any financial accounts which have a “pay-on-death” feature. You probably don’t want your ex-spouse to inherit your IRA when you die, but you need to change the designation on file with the trustee of your retirement accounts, or this could happen.
  5. Update your estate plan, including your will, trust, durable power of attorney and advance health care directives.