After your divorce has been finalized, you should draft a list of things that need to be accomplished post-divorce. The following list is not applicable to all divorces but a general review of the areas that you should consider in developing your own individualized post divorce list.
- Real Estate – Review your Marital Dissolution Agreement (MDA), note if any real estate was transferred, and determine if any deeds need to be recorded or mortgages refinanced. You should also confirm if utilities need to be reassigned, homeowners’ insurance or leases modified.
- Vehicles – Confirm that all automobiles are appropriately titled and that insurance coverage has been modified to reflect the correct owner.
- Financial Accounts – Confirm all joint accounts have been appropriately closed; change registration on stocks and bonds divided pursuant to the MDA; and confirm beneficiaries on accounts.
- Retirement Accounts – If the MDA provides that each party keeps his or her own retirement accounts, then no changes need to be made. If the MDA divides a retirement account, a Qualified Domestic Relations Order may be required to divide the account and an attorney’s help may be required. You should also make sure the beneficiaries conform with the MDA.
- Life Insurance Policies – Confirm that beneficiaries conform with the MDA or parenting plan and obtain any policies required by either the MDA or a parenting plan.
- Health Insurance – Provide COBRA options to spouse if required and make sure you obtain coverage if you were terminated from your spouse’s coverage upon entry of the divorce; provide insurance cards to your spouse if you provide coverage for minor children.
- Credit Cards/Debts – Transfer balances or pay credit cards as required by the MDA; confirm that all joint accounts are closed to the best of your ability; perform a credit check a couple of months after the divorce to confirm they are closed
- Name Change – If your name changed pursuant to a divorce, apply for a name change with the social security office, obtain a new driver’s license, passport and update your voter’s registration and post office.
- Estate Planning – Update your estate planning documents including wills, power of attorneys, and health care power of attorneys and determine the need to establish trusts.
If Held Law Firm can help you with any of these post-divorce items, please contact our office. To schedule a case assessment with Melanie Hogg or another Held Law Firm attorney, call (865) 685-4780.