Whether you have been married for two years or 20, you and your spouse are likely tied to each other in multiple legal and financial ways. Undoing these ties is essential in the event of divorce, but it is easy to let one or more connections slip through the cracks because you have so many other issues to focus on during the proceedings.
If you are about to file for divorce and you want to ensure a clean break, contact Behrens Law Firm, LLC. Barbara L. Behrens has been practicing law for more than three decades, and she will compassionately represent your best interests during all disputes. Call 314-499-6999 to schedule a consultation with a divorce lawyer in St. Louis.
Let us take a look at four important documents to update following divorce:
- Life Insurance Policies
Review all life insurance policies, and update their beneficiaries or cancel them as needed. If you and your spouse share children, you may want to retain your policy to cover the cost of college, but you can update the beneficiaries so that 100 percent of the funds go to your children instead of your ex-spouse.
- Your Will
Review your will to determine if you need to make any changes. Unless you already established that all of your assets should go to your children, you will likely need to update it.
You should also review whom you named as the executor. If your spouse was the executor of your will, consider changing it to a sibling or an older child.
- Powers of Attorney
If you have created any powers of attorney that involve your ex-spouse, make sure you update or cancel them. This includes healthcare powers of attorney, as well as any general powers of attorney. If you do not update your general power of attorney, your ex will theoretically retain the legal right to make business and financial decisions on your behalf, even after the divorce has been finalized.
- Retirement Plans
If you and your spouse saved for retirement together, the court will determine how to divide up your nest egg equitably. If you retain any retirement savings or pension plans after the property division, make sure you review their documents and update the beneficiaries as needed.
In addition to the above documents, Forbes reminds readers that they need to update all miscellaneous accounts, additional financial documents, deeds, titles, and children’s school records. These include investment accounts, authorized credit card users, and W-4s. An experienced divorce lawyer will provide you with a comprehensive list of all documents and accounts you should update so you do not experience any issues down the road.
If you are considering divorce, you can rely on Behrens Law Firm, LLC for comprehensive legal guidance. Ms. Behrens is a skilled family lawyer who will protect your interests and help you avoid making costly mistakes during the proceedings.
Call 314-499-6999 to schedule a consultation with a family attorney in St. Louis. You can learn more about the laws governing divorce in Missouri by visiting the USAttorneys website.