| Your Accounts &
Credit |
Time Frame |
| Change your name on all your financial
documents, bank statements, etc. |
Immediately |
| Close and change names on all joint
accounts. Make sure all credit card bills and loans are paid promptly and closed by you or
your spouse if responsible. |
Immediately |
| Open a checking/savings account in your
name. |
Immediately |
| Establish your own credit history. Open a
credit card in your name. |
Immediately |
| Set up a liquid account with up to 3 to 6
months of cost-of-living expenses in a money market fund or a Certificate of Deposit (CD) |
Immediately |
| Check investment accounts to see ownership
of stocks, bonds and mutual funds are properly listed. |
Immediately/final decree |
| Your Identification |
|
| Change your name with Social Security. |
Once you receive final decree |
| Change your name on your driver’s
license. |
Once you receive final decree |
| Your Property |
|
| Change title on your automobiles if
necessary. |
Immediately |
| Change over your automobile insurance. |
Immediately |
| Have your spouses name taken off of the
mortgage for the house or apartment. |
Immediately |
| Make sure you transfer ownership of all
deeds for your homes or automobiles, boats, etc. and that they are recorded at the
appropriate county recorder’s office. |
Immediately |
| Your Insurance &
Finances |
|
| Change your beneficiaries on all Life
Insurance policies, etc. |
Immediately |
| Change beneficiaries on all Retirement
& Pension accounts. |
Immediately |
| Health insurance - Be sure to revise
coverage for spouse and/or dependents depending on divorce decree. |
Immediately |
| If you have a QDRO (Qualified Domestic
Relations Order) make sure it’s done. |
Check with Attorney |
| Execute a new will or trust. Designate
guardians for your children if necessary. Be sure to update your health care proxy and
your power of attorney documents. |
Immediately |
| Go over your settlement agreement –
go over every detail with your attorney or your financial advisor to make sure everything
is completed. |
Immediately |
| Review your tax withholding allowances
with your tax advisor or CPA. |
Immediately |
| Documents to keep
handy |
Location |
| Birth & death certificates; marriage
license; divorce-related agreements; citizenship papers; deeds; car titles; mortgage
agreements; inventory and photos of household property . |
Safe deposit box |
Home |
| Tax returns, including documentation for
prior 6 years; insurance policies; bank, brokerage & mutual fund statements; mortgage
statements; employment benefit documents, including booklets on group insurance &
retirement plans, employment agreements, deferred compensation agreements, stock option
plans, Keogh & IRA documents & current benefit statements; business documents,
such as partnership agreements, tax returns, stock redemption/buy-sell agreements &
financial statements. |
Filed separately
and easily accessible |
Home |
| Trust documents (if created by you or for
the benefit of you, your spouse, or your children). |
Home |
Trustee's home &
attorney's office |
| Will; power of attorney; living will;
health-care of attorney. |
Attorney's office |
Home & home of
executor/agent |
| Keep all payments and receipts for alimony
and child support as well as any credit cards or loans paid off by you or your spouse.
Make copies of all checks you send or receive. Keep a log of all checks with dates and
amounts. |
Filed separately
and easily accessible |
Home |
| Make a copy of your final judgment and
settlement agreement. Keep the original in a safe or safe deposit box. |
Safe deposit box |
Home |
| Keep all of your children’s documents
together in a separate file. All birth certificates, social security cards, Immunization
records for school, names of new and old doctors with address and telephone numbers. |
Filed separately
and easily accessible |
Home |
