Divorce is an opportunity for unhappy people to start clean. Before turning to the next chapter in life, some important documents may require revision. The following is a list of some documents you must remember to revise in order to jot down your new joyous journey.
Title Changes
Beyond your last name, there are some important titles you should consider changing quickly. If you shared titled to the home you once shared with your former spouse then the deed should be revised to reflect the current owner. Any real property should also be refinanced in order to eliminate any obligation to maintain an asset no longer in the possession of that party. Distance yourself from potential liabilities by taking your name off the assets you no longer own like cars, boats, etc. If your spouse forgets to make payments, you will no longer be held responsible for their carelessness.
Trust & Estate
After you pass away, do you want your estranged spouse to get everything you worked for? This may have been the case when you initially completed your estate planning documents but that does not have to be your final decision. Make sure the legacy you leave behind is exactly what you desire by making sure to take care of your trust and estate plans first. Drafting a new single person trust and Will ensures that the necessary adjustments to beneficiary designations are made.
Other Accounts
Some of the most minuscule accounts can cause the most financial heartache when not properly taken care of. Erase your former spouse’s name off all insurance policies, retirement accounts, IRAs, privacy policies at hospitals, bank accounts, investment accounts, and utilities. In each of these transitions, be prepared to show legal proof of your divorce.
Thanks to Heritage Law, LLP’s team of attorneys, you only need to make an appointment at one place to get all the expert advice you’ll need as you go through this process. Our family law counsel can guide you through the dissolution of marriage steps while our trust and estate team advises you on amending other legal documents. Contact us for a consultation of your case.
