10 Things to Do After Your Divorce is Final

So, your divorce is final in the eyes of the court but there are many activities left to be done. This guide will provide you with a list of 10 (of course, there will be more) to get you started in planning for your new situation and tend to the details of your divorce agreement. 1. Estate Planning DocumentsrnYou will want to prepare a new will, health care directive, power of attorney and living will as soon as you can, as laws may change the effectiveness of these documents automatically. What was once legal and binding during your marriage may be null and void after your divorce. 2. Qualified Domestic Relation Orders - Retirement TransferrnConfirm that any qualified domestic relation orders (QDROs) that are required to transfer a retirement account have been approved by the court and forwarded to the Plan Administrator for processing. 3. Transferring AssetsrnTransfer joint or sole assets as agreed in the separation agreement (real estate, auto, bank accounts, bonds, investment accounts). 4. Insurance PoliciesrnReview and change any homeowner, auto and umbrella liability policies as may be necessary. 5. Employment MattersrnNotify your employer as necessary to change beneficiaries of death benefits, retirement benefits and/or health benefits. In addition, you may want to review your tax claim information to see if you can alter it now that you are divorced. And check on your emergency contact information to determine if you need to change it (you will also want to make the change at your next doctor's or dental appointment). 6. Beneficiary DesignationsrnConfirm that any agreed upon life insurance, disability insurance is in effect, has the proper beneficiary designated and there is a way for you to be notified if the premiums are not being paid timely. 7. Financial IssuesrnContact or start a relationship with a financial advisor to plan your retirement and review your investments in light of your new situation. If starting an education plan for your children was part of the divorce agreement, you will want to establish one and start contributing right away. 8. Name Change NotificationsrnIf you have changed your name, contact motor vehicle department, social security, the IRS and others who need to know. 9. Credit CardsrnEstablish credit in your own name; write to present credit card companies to confirm card holders and names on the account. 10. Children's SchoolrnSend a letter to your child's school notifying them to add a second address for all school announcements and report cards. Your particular divorce agreement may outline other activities you will need to accomplish so keep a copy close at hand and get started right away. The sooner you can finish these final tasks, the quicker you can move on to the chapter in your life.