Monday 05, Sep, 2016
Three Things You Need to Do After Your Divorce is Finalized
What Do You Need To Do After Your Divorce Is Finalized? Ask A Top Divorce Attorney Chicago.
It is a mistake to believe that all matters are finally resolved once your divorce is finalized. In fact, the granting of the divorce enables you to take other actions necessary to protect your assets and legal interests. Failing to take these or other actions can result in serious legal and/or financial trouble for you and your children.
As soon as you obtain your divorce decree (or sooner, if possible), take the opportunity to complete the following:
- Update your will and estate plan. If your existing will and/or estate plan names your ex-spouse as a beneficiary, now is a good time to review your estate plan if for no other reason than to remove your ex-spouse as a beneficiary. However, because you should periodically review and update your will and/or estate plan, you should carefully go through your plan and make sure it still meets your needs and reflects your wishes. Depending on what assets you are awarded in your divorce case, you may also need to adjust how these assets are awarded. Finally, if your estate plan includes powers of attorney or healthcare directives that gave your ex-spouse authority to make decisions on your behalf if you became incapacitated, it may be necessary to name a new individual to assume these duties.
- Update the beneficiary designations on your retirement accounts and life insurance accounts, too. For the same reason that you will want to review and adjust your estate planning documents, you should review the beneficiary designation on your retirement accounts and life insurance accounts. Any account that names your ex-spouse as a beneficiary will need to be changed through the account’s institution. Because retirement accounts and life insurance accounts do not pass through probate, changing your will does not affect these designations.
- If you are not the parent with residential custody of your child, be certain you are kept informed of your child’s wellbeing. In accordance with the division of parental responsibilities entered by the court, be certain that your child’s teachers, coaches, and other similar individuals know how to reach you and ask that you be kept informed about important events pertaining to your child. Do not assume that the other parent will be able to keep you informed of all happenings that might affect your child. By making sure the important people in your child’s life know how to reach you, you will be able to better exercise your parental responsibilities and work cooperatively with your ex-spouse to appropriately parent your child.
The experienced Cook County family law attorneys at Arami Law have helped numerous divorce clients in Illinois navigate the sometimes-confusing divorce process. Our legal advice does not end once the divorce decree is granted, however. We will help you take the steps you need to establish yourself and protect your interests once the divorce is finalized. Contact our firm today and let us help you during and after your divorce. Call (312) 212-1399 or complete our online form today.