Post-Divorce Checklist
Items to consider post-divorce to ensure liability protection, financial security, and enforcement of agreement.
Estate Planning: (create or update)
Will
Revocable Living Trust
Power of Attorney – General
Power of Attorney – Healthcare
Healthcare Advance Directives
Guardianship for Minors – Custody
Guardianship for Minors - Financial
Beneficiaries
Transfer on Death designations – brokerage and bank accounts
Life Insurance – employer’s group life/individual policies
Retirement Plans: IRAs, 401(k)s/qualified plans, pensions, annuities, deferred compensation
Re-titling: (AFTER all accounts are divided and in ex-spouse’s name)
Marital Home – Interspousal Transfer Grant Deed
Other Real Estate
Bank and brokerage accounts (open new/close joint accounts)
Safe Deposit
529 Plan Custodian
Auto Insurance
Homeowner’s Insurance
Autos/vehicles
Name Changes
Social Security
Certified version of Divorce Decree citing name change
Purchase:
Healthcare Insurance (COBRA (36 mo) or marketplace)
Umbrella Insurance
Long-term Disability Insurance
Long-term Care Insurance
Financial Planning:
Start emergency fund- 6 months minimum take home pay
Remove authorized user (ex-spouse) from credit cards
Ensure debt is assigned only to designated spouse per divorce decree
Close credit lines (HELOC)
Secure a credit card in own name if not already done
Engage a tax preparer (EA or CPA) off season for current year’s tax return, tax planning, required estimated payments, review withholding
Get invested according to risk tolerance for future security
Track Progress toward Completion of Transfers per Agreement
QDRO – transfer qualified plans
Employer stock accounts (stock option plans, ESOPs, RSUs)
Proceeds from businesses
Other:
Real Estate Investment Properties:
Inform mortgage company and title company
Change deed Interspousal Transfer Grant Deed)
When to Engage Attorney Again:
Child and spousal support issues
Assets are not transferred per timing of agreement or withdrawals made after settlement
Transfer of stock held in Constructive Trust -award and payment dates per schedule
Enforcement of the agreement
Expense payment issues (pets, other agreement arrangements)
Current year tax refund/payment issues
Non-qualified withdrawals by custodial spouse for 529/UTMA/Coverdell
Note: This checklist is for informational purposes only and is not intended to provide either tax or legal advice. Please contact your attorney or accountant and rely on their independent research and advice for these matters.
