Peaceful Divorce

After divorce, people often forget to take care of a few small but very important details, such as:

  • Joint auto Insurance policies;
  • Amending will and life insurance beneficiaries; and
  • Switching accounts for bills that are on autopay.

In regards to auto insurance and divorce, many couples get discounts due to being tied to their residence or having multiple vehicles. When considering the removal of a spouse from a joint policy, compare auto policies before deciding. Keep in mind the following steps:

  1. Call your auto insurance agent to have your ex removed from the vehicle you are keeping.
  2. Check to make sure your auto premium is still affordable. Your driving needs may change - you might not be putting as much mileage on the auto and may be able to reduce your premiums.
  3. Educate yourself on what discounts you may lose, such as multi-car or homeowner discounts, and potentially what new discounts you may receive, such as being claim-free.
  4. Find out how the cost of your vehicle affects your coverage. If your spouse’s auto was a BMW and you have a minivan, your comprehensive and collision coverage could cost less.
  5. If considering moving to a new state, find out how that decision will affect your premiums. Some cities and states have higher premiums than others.
  6. One of the most important items to look at is insuring your children when they are of driving age. You will have to decide whose policy to list the children on. Most of the time, the custodial parent will need to list them on their policy, since this is whom the child lives with. If you have joint parenting time, it would be whichever parent garages the auto most of the time. There could be times when the insurance company may want both parents to list the children as drivers, even if the parents are divorced.

You can see why a little item is easy to forget. It is vital to have a plan and follow through on it. Little things can quickly become big issues! Contact us today if you require assistance in regards to these issues.

Views: 26

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

What Is a Caucus?

One of the guiding values in mediation and collaborative law is transparency. It comes with the territory when one is trying to establish trust with two different parties. Sometimes an issue may arise that one party may wish not to discuss in front of the other. If they both agree, separate meetings may take place. These meetings are called caucuses.Caucuses can be…See More
Oct 22, 2019
Robert D. Bordett, CFP, CDFA posted a blog post

How Important Is the Budget in Divorce Planning?

I think everyone’s least favorite word is BUDGET. Why don’t we want to hear that word? Think about it: We’re asking ourselves to do something we don’t want to do — or worse yet, someone else is asking us to do it. While we might not like them, having a budget does help. In divorce planning — whether you are going to litigation,…See More
Sep 18, 2019
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, 2019
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, 2019
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, 2019

Badge

Loading…

About

© 2020   Created by Cynthia Tiano, Esq..   Powered by

Badges  |  Report an Issue  |  Terms of Service