If divorce is something you are thinking about, are in the midst of, or have gone through, Daily Finance has an article on financial, tax, and legal related points to consider.
The author has prepared a thorough list of 22 things to consider in moving from married to divorced.
I am in strong agreement with several of his points. Time spent going through his list would be time very well spent – for you now and your family and loved ones later.
His #3 is to change beneficiaries for retirement, life insurance, and more. Not doing this could result in unintended beneficiates and additional work for the person handling your estate.
In #8 he calls attention to estate planning – should it be updated? What about a trust? Who do you want to make medical decisions if you are unable to do so? What about guardians for minor children? These are just some of the questions to ask.
Then #9 is a reminder to look at how assets are titled. Ensuring that titling or ownership is correct now can prevent headaches, and even litigation, later.
This comprehensive list is a good worksheet for those going through a divorce.
Note: downloading the checklist requires that you sign in. Instead you can go through the slides labeled 1 of 23 by clicking on the point to the right of the photo.
