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Three steps to take after the divorce is final

On Behalf of | Apr 19, 2019 | High-Asset Divorce |

Even an amicable divorce is an upheaval in one’s personal life. Once the negotiations and court dates are complete, both parties can generally put the legal side of things behind them and get on with their lives.

Three steps that can help ease the transition into post-divorce life include:

  • Paperwork. Review insurance coverage. Depending on the details of your divorce settlement agreement, you may need to get additional coverage. You may also need to retitle some assets. It is wise to retitle a property if, for example, the divorce agreement included one party getting a piece of real estate. If needed, you should also take the time to file the paperwork required to change your name.
  • Estate plans. If you have an estate plan, review it and make adjustments to reflect any changes. Update power of attorney documents and trustees if you have any trusts. Even if you do not have an estate plan you likely have assets with beneficiary designations. Review these designations to better ensure your assets do not transfer to an unintended beneficiary.
  • Passwords. Change all passwords. Online bank accounts, social media sites, email. All of it. Remember, even if you do not think you ex could guess at your password many electronic devices save this information. You can better protect your assets by changing these passwords to reduce the risk your ex can access the accounts.

These tips will help the financial and practical side of things. However, some may also benefit from some psychological support. Find the support you need. For some, the support comes from a network of friends and family members while others may prefer a professional support system. Find the system that works best for you and use it.