There’s a lot that’s discussed by spouses during the divorce process. You may feel overwhelmed and confused once the divorce process has settled.
While you may think everything will be done and over once the divorce process has settled, there are still a few loose ends you may need to clean up. Here’s what you should know:
1. Make new passwords
Couples will typically share online passwords. These passwords may be used for things like streaming services or laptop access. But, more importantly, you may have shared passwords linked to private accounts, such as your social media or bank accounts. While your soon-to-be ex-spouse may not take advantage of this knowledge, you should ensure your security is protected by changing your passwords.
2. Remove soon-to-be-ex-spouse from estate plans
When making estate plans, most people name their spouses as beneficiaries. This ensures that there’s no question about what assets should go to the testator’s spouse. However, you may need to exclude your soon-to-be-ex-spouse from your estate plan. You may have also named your spouse as a power of attorney and wish to amend that decision.
3. Create a budget
You’ve likely adjusted to the idea that your finances are interwebbed with your spouse’s income. This has likely made making investments easier for you and your spouse. But, after divorce, you’ll have to readjust how you spend your finances. Because of this, you may want to consider making a budget that ensures you don’t overspend.
4. Report your name change
If you’re female, you may want to revert to a former name after your divorce. You may need to inform interested parties that your name has changed. Some parties you may need to notify are government agencies, such as the Social Security Administration, your creditors, your landlord and others.
5. Open new bank accounts
Again, you likely share bank accounts with your spouse. After divorce, you may need to consider opening new bank accounts. If you continue using your old bank accounts without making changes, then your spouse could use your account without permission.
If you’re going through a divorce, then you may need to reach out for legal help to ensure you get a desirable outcome.
