Whether you choose a collaborative divorce approach, mediation, or your situation requires litigation, a lot will change once your divorce settlement is final. You and your lawyer will review the steps to make all the necessary changes. Below are a few of the items you may need to address after divorce.
Divide Your Assets
As you likely already know, a divorce agreement is a legally-binding document. After the court issues the final divorce decree, it’s time to act on it, divide your property and transfer ownership, titles, debts, and loans per the divorce agreement.
Notify Institutions of Your Name and/or Address Change
If you change your last name after you divorce, notify relevant creditors, banks, insurance companies, and other institutions. If you move to a new home, you’ll need to tell them your new address as well. You’ll also need to apply for a new driver’s license, Social Security card, and other identification if your name changes.
If you’re staying in the same home after divorce, be sure to remove your former spouse’s name from your home lease or refinance the mortgage pursuant to the divorce agreement.
Write a new will that reallocates your property. You may also want to open new credit and bank accounts under your name.
Update Your Insurance
Your life, health, and car insurance will likely need to change after you are officially divorced. Be sure to change the language regarding the beneficiaries on your life insurance policy as the divorce decree permits or requires you to do so.
Don’t forget to update your health insurance. If you need to continue health coverage under COBRA, ensure you have filed all the necessary documentation to get started. If you already have health insurance, update your dependents as arranged in the divorce agreement.
Contact Bort Law for Assistance
At Bort Law, our mindful divorce methods have helped hundreds of couples get through divorce while minimizing stress and eliminating the need for court battles. If you have decided to divorce your spouse, we can help. Contact our firm to find out of our mindful approach is the right route for you and your spouse.
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