Do Not Forget to Take Care of These Loose Ends After Your Divorce is Final
Posted on: January 7, 2019
No one goes into a marriage hoping that it will end in divorce yet this is what happens for roughly half of couples. If you have been through a divorce and it has been finalized, it would be great to move on and never look back. However, there may be some loose ends that are still in need of being tied up.
At Law Office of Michael L. Fell we always give our clients exit advice on how to best move forward after their divorce. Read on to learn more about the loose ends you could potentially be dealing with. Then contact us at (949) 585-9055 if you need help beginning the divorce process. We can help with everything, including child custody and child support, mediation, and all other aspects of divorce.
Change Beneficiary Designations
Once your divorce is final, go through any accounts you have that include beneficiary designations. This may include bank accounts, life insurance policies, retirement accounts, and other estate planning documents. If your former spouse is listed on them, then you should have them updated right away.
Close Joint Accounts
If you have any joint accounts then they should be closed right away. This would include any credit card accounts with both of your names on them, as well as retirement accounts, bank accounts, etc. Just make sure you are taking to your divorce attorney first as some of these accounts may have been included in the divorce settlement and specific actions may need to be taken.
Talk to Your Employer
You will likely need to have your tax withholding status changed, which you will need to discuss with your employer or HR representative. If your ex was getting benefits from your job, such as health insurance, make sure that is updated. Likewise, any job-related insurance policies that list your spouse as a beneficiary should be updated.
File Essential Documents with the Department of Motor Vehicles
If you and your spouse jointly owned a vehicle that you are now the sole owner of, then you will need to go to the Department of Motor Vehicles to have it changed to your name. You can do this by filling out Form REG 138, which is known as the Notice of Transfer and Release of Liability. Once this is filled out and filed, it will have changed the title of the vehicle to you.
Do You Need to Go Back to Court?
It is not uncommon for a couple to have their divorce finalized only to realize that there were steps that should have been taken before said divorce was finalized. For example, you may have not spelled out what would happen to a particular asset and find that you both do not agree on the resolution. If you are in need of going back to court to have something settled, Law Office of Michael L. Fell can help. Just call us at (949) 585-9055 to get started.
