When you get divorced, a great many things change. Some of these things are beyond your control. Others, however, demand a bit of attention. While you are meeting with your divorce attorney, consider taking some extra time to change things that are affected by your change in marital status.
If you intend to change your name after your divorce, ask your attorney to file a request for a name change as part of your divorce petition. This saves money, time and paperwork at a later date.
If you have a last will and testament, meaning you and your spouse leave all of your possessions to one another, your divorce automatically renders it void. Take a look at your will and decide how you want to reassign anything that is currently designated to your ex.
Laws governing revocable and irrevocable trusts change and vary, but there are provisions for cases of divorce. Essentially, the divorce impacts the trust as if your spouse did not survive you. Take a look at how your estate planning tools are structured and ask your attorney to advise you.
Now that it is less likely you and your ex will die at the same time, you might want to reassign legal guardianship. If you share legal custody with your ex, guardianship automatically passes to the second parent. If you have sole legal custody, you might need to revisit this decision.
As a single parent, you might be entitled to tuition reductions at private schools, colleges and universities. Note that in many cases, schools require financial disclosure by both parents, even if they are divorced.
Credit cards or other debts
If you and your spouse carry balances on joint credit cards, once you have divided up your debt obligations in your agreement, apply for your own cards and transfer the balances you owe.
Car or home
Have your car title transferred into your name only. If you bought out your spouse from the family home, do the same for the title on the house. Anything you own outright should be in your name alone.
Posted in Divorce | Tagged changing your estate plan, Divorce, family law attorney