A divorce can be one of the most traumatic experiences a human can go through. Due to complexities in the division of marital assets, often times certain important factors can be overlooked. The following is a list of recommended actionable steps for those rebuilding after a divorce:
Revise your Will. Relationships and responsibilities have changed. Your Will usually determines how your estate is to be distributed at your death. Review it immediately to make sure it reflects your new situation and objectives so that, in the event of your death, your assets can go to the people you designate. Talk to us about your options. Sever all unnecessary financial ties with your ex-spouse. Your divorce decree may mandate child support, alimony, or life insurance on one of your lives for the benefit of the other or for your children.Divorce can scramble your retirement nest egg, separating you from assets that may have taken years to accumulate. That’s why it’s better to address the issue now.