Peaceful Divorce

Divorce is a difficult experience to go through. Besides the emotional toll, there are lots of little details you have to remember to take care of. Some of those details include

•Completing any title transfer assets (preferably before the divorce is finalized):

•Automobiles;
•Stock or equity rights in a business;
•Investments;
•Brokerage accounts;
•Life insurance; and
•Residence and another real estate.

•Terminating joint liabilities:

•Credit cards;
•Lines of credit;
•Personal guarantees;
•Mortgages; and
•Utilities.

•Terminating joint accounts, such as banking or brokerage accounts, safe deposit boxes, automatic bill pay or withdrawals from accounts. 

•Changing your address with the postal service, employer, banks, credit cards, driver’s license, passport, and all insurance companies. 

•Redoing all estate planning documents, wills, revocable trusts, medical directives, or health care power of attorneys or general power of attorneys. If your relatives have named your ex-spouse in their documents, alert them about the need to make changes. 

•Entering modifications for any employee benefit cafeteria plans. 

•Changing beneficiary designations, IRAs, ERISA qualified plans (only after the divorce is finalized), deferred compensation plans, accounts paid to the order of, or paid at your death, to an ex-spouse, life insurance policies, or stock option plans. 

This list is by no means exhaustive, but it will give you a good place to start. If you have questions regarding how to complete any of these list items for yourself, contact us today. 


Robert D. Bordett CFP, CDFA
Collaborative Practice and Mediation Services
bob@u2agree.com
888 U2AGREE (888.822.4733)

Views: 39

Comment

You need to be a member of Peaceful Divorce to add comments!

Join Peaceful Divorce

Become an affiliate of the Happily Divorced! book and audio program! Let Reformed "Killer" Divorce Attorney, Cynthia Tiano, and Dr. Max Vogt, Marriage and Family Psychologist, take you on an adventure into the lives of two families going through the divorce legal system - one doing "legal battle" and the other creating a "peaceful divorce". Learn how to create a Win-Win from their experiences... HappilyDivorced.org


Events

Latest Activity

Robert D. Bordett, CFP, CDFA posted a blog post

21st Century Parenting Plans

I remember when the default custody arrangement had one parent as the custodial parent, and the other parent was known as the “Disneyland parent.” They had their children every other weekend, and maybe once during the week for dinner. Today it is more common to see joint parenting time consist of one week on, and one week off or “two-two-five-five” time,…See More
Aug 15
Robert D. Bordett, CFP, CDFA posted a blog post

Including a Financial Professional in Your Mediation

Very often, couples who are divorcing amicably, or who have straightforward financial situations, will forgo meeting with a financial professional while they go through mediation. Though this may seem logical on its face, “going it alone” may result in unnecessary hardship and inaccurate calculations.  It is easy to simply look at a tax table today and say “I am going…See More
Jul 30
Robert D. Bordett, CFP, CDFA posted a blog post

What About the House?

Going through divorce means dealing with hundreds of details, some more important than others. One detail that merits extra contemplation is how to deal with the marital home.Does one spouse want to keep it because the children still live there? You don't want to disrupt their lives any more than is already happening. What if the children are grown? Do you still need that much of a house?Here are the three most common means of dealing with the house in divorce:Selling the house and dividing the…See More
Apr 24

Badge

Loading…

About

© 2019   Created by Cynthia Tiano, Esq..   Powered by

Badges  |  Report an Issue  |  Terms of Service