Top 3 Post-Divorce Challenges

“Tomorrow is the first day of the rest of your life.” A tired cliché never sounded so good. You’ve been through exhausting and incredibly stressful months, but at the end of the day, you’re divorced. Hurray! Keep that positive energy by rereading your post-divorce lists and crossing them off twice.

#1: Read and follow your final orders carefully.

 You need to understand what the courts expect of you and your ex. If that means you need to sit down with your lawyer and go through the final orders carefully, line by line, we’re up for it. Follow them to a t (then dot the i’s). Trust us, being in contempt of court is not good. What deadlines do you have to meet? What obligations do you have? What, exactly, have you been awarded?

#2: Transfer what’s awarded to you into your name.

 Importantly, first change your name if you want, including with the Social Security office. Open your own bank, retirement, stock, and other asset management accounts as needed, then make sure whatever’s awarded to you in the final settlement is transferred into your name. This includes the house (even if that means refinancing the mortgage) and car/vehicle titles. Bank accounts. Safe deposit boxes. Retirement accounts. Make sure whatever is awarded to your spouse gets transferred to their name too, so you’re off the hook for taxes and accidents.

#3: Do a credit check on yourself and know when support is due.

 After you’ve transferred everything, do a credit double-check to make sure no errant debt accounts are still out there in your name. Know when spousal maintenance and child support are due. Even set up automatic payments. Overlay this with your monthly bills and budget to see your fuller financial picture.