Adjusting Your Finances To A Post-Divorce Life
With all of the stress and hardships you go through during a divorce, it’s easy to forget just how difficult it is to adjust to life after your marriage is dissolved. In addition to changes in your personal life, your financial situation will be completely different, now that you are no longer married. As a newly-single person, your shared finances must be modified to prevent your ex-spouse from having access to any money, investments or insurance plans that once belonged to the both of you.
It is important to take the following steps to ensure complete financial independence from your partner:
- Close any joint backing or credit accounts with your spouse.
- Remove your spouse’s name from shared items, such as credit cards, insurance policies, real estate forms and address statements.
- Notify the post office of any address changes, if you need your mail forwarded.
- Have your spouse removed from your health insurance, or find a new plan if you were on theirs.
- Open your own bank account and credit card.
- Adjust your will to reflect your post-divorce situation.
- Rebuild your credit.
If you are changing your name after a divorce, it’s also a good idea to immediately adjust your:
- Driver’s license
- Social Security card
- Billing information
The veteran divorce lawyers at Sager Gellerman Eisner Attorneys at Law provide clients throughout Queens and Nassau counties with comprehensive divorce guidance to protect their future well-being.