Families Change Guide to Separation & Divorce

3.14 - Financial Stages of Separation: Stage Three

3.14 - Financial Stages of Separation: Stage Three

In Stage Three: After Divorce, it’s time to wrap up the details of the relationship. If there has been a name change, this needs to be communicated to financial institutions, business service providers and others to make the change on legal, financial and business documents as needed.

At this time each person needs to:

  • Review health, life and other insurance coverage;
  • Contact his or her employer to make changes to benefits if agreed upon or ordered by the court;  Replace any lost protection;
  • Consider changing beneficiaries on policies unless there is an agreement or court order otherwise; and
  • Review his or her will and other estate planning documents.

If you have children, until they are living independently and no longer require financial support, child support will need to be addressed.

Fill in the Stage Three checklist now.