Financial Tips for After a Divorce

Divorce marks the end of a time and a couple and the beginning of a new life for each side of the split. While no one with discount the emotional struggle that is apparent in a divorce, there are also other considerations that must be addressed during and after the decision is finalized. Most of the pressing concerns are financial and have very specific time constraints. While things might seem a little overbearing, there are a couple good tips that can keep you in control of your new beginning.

There are multiple deadlines and mandates which must be met once the decree of divorce has been signed. The best plan is to stay organized throughout this turbulent time in order to meet the time limits on things like transferring of titles or property, deeding property and paying your former spouse either child support or spousal maintenance. Sit down with your divorce lawyer to make sure you have a list or calendar to follow.

Another important step in the aftermath of a divorce is closing joint accounts. If you and your ex-spouse has a joint account, it would be increasingly easy for them to rack up major bills and do damage to credit ratings if the divorce wasn't amicable. Close the accounts or remove your name in a way that is traceable. If you can use a certified email and retain a return receipt, then any outstanding debts will be the other person's responsibility.

The last step to remember is securing your future by updating your records. Your living will, power of attorney, and health care proxy need to reflect new changes in your life. This should fix any health or financial concern that you will have. You may also want to revert to your maiden name where applicable. Making that kind of change will require a new social security card, driver's license and more.

If you are just beginning to file for a divorce, the assistance of an experienced divorce attorney will guide you along the process. There are many different concerns that will be pulling your attention. Contact a skilled family law attorney in Naperville today to make the first step.

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