Three things to do after your divorce is finalized
Depending upon your appetite for celebrity relationship gossip, the recent announcement of Brad Pitt and Angelina Jolie’s impending divorce may, or may not be, a surprise. Those who closely follow tabloid news saw this coming. Those who don’t are probably wondering what went wrong in their relationship.
As of this writing, chances are that no petitions have been filed in court, but one thing is certain. If and when their divorce is finalized, there are a number of things they will do to protect their interests as individuals. This post will highlight a couple of things they are likely to do, and will serve as an example for couples in the midst of a divorce as they plan their post-divorce lives.
Change your will – Chances are that you named your spouse as your executor. It is also likely that he or she stands to inherit a substantial portion of your estate (if not all of it). Now that things have changed, you will have to amend these documents so that your ex does not cash in if you pass away.
Change your insurance policy – In the same vein, you probably have your soon-to-be ex-spouse listed as a beneficiary on insurance policies you own. Likewise, you will have to appoint new beneficiaries. You could include children or assign the proceeds to a trust for their benefit.
Check your credit report – Your divorce settlement may call for your ex to pay off all existing joint credit cards or loans. If this is the case, monitoring your credit report is essential. If your does not honor the agreement, creditors will still come to you for payment since contract is between you, your ex, and the creditor.
If you have additional questions about preparing for your post-divorce life, an experienced family law attorney can help.