6 Things to Do ASAP After Your Divorce is Over~ 3 min read

After your divorce is final, there are important tasks to take care of right away, such as updating titles, changing beneficiaries, handling retirement accounts, reviewing insurance, and meeting with a financial advisor.

When your divorce is finalized, it may feel like a huge weight has been lifted. However, the court order is only part of the process. There are still practical steps you need to take to protect your finances, update your records, and set yourself up for the future. Taking care of these tasks right away can prevent problems and give you peace of mind.

1) Update Property Titles and Records

Once your divorce is finalized, make sure all property is correctly titled in your name. This includes vehicles, homes, and tax records. In Missouri, you may need to use a gift affidavit for vehicles and take your divorce decree to the Department of Revenue or county office to complete the change. Do not assume these updates will happen automatically.

2) Change Beneficiaries and Estate Plans

Many people forget to update their beneficiaries after divorce. Review retirement accounts, life insurance policies, and other assets to make sure the right people are listed as your beneficiaries. If you still want your former spouse listed, you may need to reaffirm it. It is also a good idea to review your will, powers of attorney, and other estate planning documents so your wishes are current.

3) Finalize Retirement Account Division

If your divorce involved dividing retirement funds, you may need a special order, such as a Qualified Domestic Relations Order, to complete the transfer. Without it, the division cannot be enforced. Confirm that these documents have been prepared and filed so you receive what you were awarded.

4) Take Care of Name Changes

If you or your children are changing names after the divorce, it is best to take care of that right away. For yourself, you may need to update your Social Security card, driver’s license, bank accounts, and other legal documents. For children, you may need to send the court order to the state, so their birth certificates are updated. Delaying this step can cause problems later with school enrollment, medical records, and other important matters.

5) Review Insurance Policies

Health, auto, and homeowner’s insurance should be updated quickly. If your spouse is no longer on your health insurance, or if your children’s coverage needs to change, do this right away to avoid unnecessary fees. Car insurance and home policies should also reflect your new status.

6) Meet With a Financial Advisor

Divorce changes your financial life dramatically. Meeting with a financial advisor will help you create a new budget, manage retirement savings, and plan for the future. If you shared an advisor with your spouse, you may decide that you want to find someone new.

Contact Family Ally

The end of your divorce is the beginning of a new chapter. Family Ally can help you take the right steps now, so you feel secure moving forward. Contact Jennifer Piper at 314-449-9800 to schedule a consultation.

Family Ally is located at 130 S. Bemiston Ave., Suite 608, St. Louis, MO 63105.