Some of these many not apply in all situations, and some may have happened before the judge signs the order or as part of what is called "the divorce process," but all divorced people should make sure they are attended to. (Remember, God and the devil are both in the details).

A party who divorces pro se should be particularly attentive to these tasks. A party who uses a lawyer may find some of these have already been done by his or her attorney as part of the divorce.

Some of these are easy to some may be done by the time the divorce decree comes done, and some a lawyer does are part of the divorce process.

As part of a divorce (or its follow up), here are 10 must-do steps:

1. Read the decree and correct any mistakes.
2. Get certified copies of the divorce order.
3. Make new deed for real estate.
4. Transfer the titles of cars.
5. Update insurance coverage.
6. Update beneficiary designations and W-4 withholding.
7. Protect retirement rights.
8. Rewrite wills and trusts.
9. Confirm the separation of bank and credit accounts.
10. Follow through on name changes.

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1. Financial and Estate Clean-Up After Divorce
   Here is a list of the important items you may want to consider amending: 1. Beneficiary designations for the following financial instruments: Employer Retirement plans, Individual Retirement Accounts (IRA), Life insurance, Annuities, Health savings accounts. 2. Transfer on Death (TOD) investment accounts 3. Payable on Death (POD) bank accounts 4. Will 5. Health care powers of attorney and living wills 6. Powers of Attorney 7. Revocable trusts 8. Advanced estate planning structures such as irrevocable trusts
   Contributed on 11/19/2007 by: Paragon Wealth StrategiesJacksonville, FL[Total Submissions: 14]

   Category: Estate Planning  (Applicable in All States)
2. Revocable Trust Information
   Revocable trusts, often known as Living Trusts, are more complex in their drafting and may require further consideration, as the divocee may need to amend beneficiaries and/or trustee powers to eliminate the former spouse. Finally, advanced estate planning structures such as irrevocable life insurance trusts (ILIT’s), Qualified Personal Residence Trusts (QPRT’s), and charitable trusts may be very difficult, if not impossible to amend, since the original intent of creating these structures was to make an irrevocable election, usually structured to benefit both husband and wife together. Should the husband or wife assume the power to change the irrevocable election, the tax advantages gained by the structure may be undone. The divorcee will need to work closely with his or her attorney, as well as trustees, to explore possible options.
   Contributed on 11/19/2007 by: Paragon Wealth StrategiesJacksonville, FL[Total Submissions: 14]

   Category: Estate Planning  (Applicable in Florida)
3. Real Estate Title and Debt Refinancing
   If a marital home or other real estate property is to be retitled, be certain to complete this action in a timely manner. Until title is changed, that asset may be subject to your ex-spouse’s creditors or other claims. If a decree orders a property to be quit claimed to one spouse, ensure that any mortgage note against it is also refinanced. Generally lenders will not retitle a note. Instead, you must determine if the lender will refinance the note to one individual. This most likely will involve new closing costs, and perhaps a new rate or monthly payment. Quit claim deed of a property without changing the note leaves the spouse who gives up the property responsible for the debt without owning the asset - a situation no one wants to be in.
   Contributed on 11/19/2007 by: Paragon Wealth StrategiesJacksonville, FL[Total Submissions: 14]

   Category: Debt Division  (Applicable in All States)
4. Retirement Accounts -- complete QDRO’s and Letters of Instruction
   As somewhat of an inverse of the point on real estate above, until a Qualified Domestic Relations Order (QDRO) or Letter of Instruction pertaining to a retirement account is complete, the recipient spouse has no real claims on the money. It is important to complete these items in a timely manner to avoid payout of the funds at the ex-spouse’s death, disability, employment termination or retirement. If the employer pays out the funds and the recipient spouse’s claim isn’t yet on file, the only way to get back the recipient’s share is to go back to court. Since one never knows when one of these life events like termination or death might occur, it is important to complete them as quickly as possible.
   Contributed on 11/19/2007 by: Paragon Wealth StrategiesJacksonville, FL[Total Submissions: 14]

   Category: Retirement Accounts  (Applicable in All States)
5. Update Beneficiary Designations
   Once the divorce is over, make sure to check all retirement accounts, IRA’s, insurance policies, and annuities to update beneficiary designations. Chances are you may not want to leave that money to your ex-spouse for their consumption. Yet, without updating the beneficiary designation, that’s the exact right that they will have. Regardless of children or a new future spouse, whoever is named as your beneficiary is the individual who will get the funds, so be sure it is the person you want to have receive them. Generally courts cannot undo the “wrong” beneficiary receiving the assets, because the beneficiary designation is not a part of the probate process at death.
   Contributed on 11/19/2007 by: Paragon Wealth StrategiesJacksonville, FL[Total Submissions: 14]

   Category: Financial Planning  (Applicable in Florida)
6. Re-title joint assets and accounts
   Re-title joint assets and accounts such as credit cards, bank accounts, memberships: Everything in life that you did together must come undone. Create the list of all joint items such as credit cards, bank accounts, gym memberships, etcetera, and either re-title those accounts to individual name or close the accounts. Some accounts may not allow for re-titling. The institution may tell you that you must reapply for a single account. This is especially true for any account where credit is involved. Banks and investment institutions will often require new paperwork and new account numbers for account changes so that there is a paper trail associated with the movement of assets. While these items may be tedious, they are important to the safety of your money and assets, which are not truly secure until they are in your name alone.
   Contributed on 11/19/2007 by: Paragon Wealth StrategiesJacksonville, FL[Total Submissions: 14]

   Category: Property Division  (Applicable in Florida)
7. Revisit your Will, Power of Attorney, or other estate planning
   After a divorce most estate planning work becomes invalidated since you likely no longer want to leave anything to your ex-spouse. State law may automatically disqualify the documents that name an ex-spouse simply because the documents name someone for entitlements they no longer have. Particularly if you have minor children, be sure to revisit your Will and elections for who will be appointed to care for your children and any financial assets on their behalf. Updating these documents will ensure that, in the event of your unexpected incapacity or death, your children and your assets are cared for by who you want in the manner that you want, preserving your wishes and legacy.
   Contributed on 11/19/2007 by: Paragon Wealth StrategiesJacksonville, FL[Total Submissions: 14]

   Category: Estate Planning  (Applicable in Florida)

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