Things To Consider Once the Divorce Is Final Smart Monkey
Things To Consider Once the Divorce Is Final
by Michael D. Larsen
- Prepare and record appropriate deeds evidencing how you and your ex-spouse will hold title to the family home and any other real estate.
- Take care of any other transfers of property, such as vehicles.
- Update your insurance policies: health, life, disability, automobile and so forth. This includes updating who the “insureds” are and who the “beneficiaries” are.
- 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.
- Update your estate plan, including your will, trust, durable power of attorney and advance health care directives.