While you’re going through a divorce, you’re focusing so much on getting all your ducks in a row, that you may forget that after you sign on the dotted line, there’s still more work to be done. There may be loose ends to clean up, and you will have a new life to build. Discover some of our best advice for our clients to follow after their divorce.
Get familiar with your debt
Make sure that you’ve taken off your spouse’s name from joint accounts, that you’ve updated all of your own accounts, that you’ve closed accounts that need to be closed, and that you’ve changed your mailing address. You may want to set up a new email address and set up new accounts with creditors. Note any requirements on your divorce agreement and make sure that you’re following them. Make sure as well that you know who’s responsible for paying all outstanding debt balances.
Don’t stop seeing a therapist
If you’ve been seeing a therapist to get you through the divorce, this is not the time to stop. Keep seeing them until you’ve settled into your new life and your emotions have levelled out. You will have ups and downs – make sure you have somewhere to process those feelings. If you weren’t seeing a therapist before the divorce, consider starting now.
Get a copy of your credit report
At Kendall Gkikas & Mitchell, we always suggest that couples who are beginning the divorce process get a copy of their credit report. We also recommend getting one after the divorce is finalized. This is the best way to ensure that everything has been closed and transferred as it should have.
Make joint accounts your responsibility
In a perfect world, once your divorce is over there would no longer be any joint accounts. However, if you find that there is a still a mortgage, car loan, credit card, etc. in both of your names then you need to assume it as your responsibility. Even if it’s their responsibility to pay the account, it’s up to you to make sure that they do. Remember that as long as your name stays on the account, you’re legally responsible for it.
Have your estate planning documents updated
Most people list their spouse as their primary beneficiary on estate planning documents. This includes 401(k)s, IRAs, life insurance policies, and bank accounts. If you have a will then your now former spouse is likely listed on it. All of this will need to be updated so that your wealth goes where you want it to in the event of your death.
Your attorney can help
Just like your attorney helped you get divorced, your attorney can help you with various post-divorce needs. For example, if you need a custody agreement modification, or a modification to child support or alimony, we can help. Call Kendall Gkikas & Mitchell at 909-482-1422 today. We are here to help you get through this process as smoothly as possible.
