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.
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