Documents to Update When Ending a Union

Significant life transitions, such as divorce, require more than a new emotional alignment, they also mean it is time to review an array of important documents. After all, while dividing assets and finalizing custody arrangements is part of the divorce process, you’ll also need to revisit and update a variety of legal and financial documents to reflect your new circumstances.

Of course, there are a lot of changes to navigate when separating from a spouse. It is normal to want to avoid the process of updating a lot of paperwork, but when you have a clear checklist and work through it with a skilled West Palm Beach family attorney, clarity and peace of mind is in reach.

Estate Plans, Financial Accounts, and Other Documents

Asset distribution is part of ending a marriage, and divorce often necessitates changes to financial accounts and policies, too. For example, you will likely want to look over any life insurance policies you have so that you can update beneficiaries. Doing so could be necessary to reflect your new preferences, ensuring future payouts align with your intentions.

Additionally, you will want to review the following documents.

• Retirement accounts. Look over accounts and revise beneficiaries on 401(k)s, IRAs, and pensions.
• Bank accounts. Remove your ex-spouse’s name from joint accounts. If necessary, close joint accounts and open new individual accounts.
• Investment accounts, Adjust ownership and beneficiary details in line with your divorce decree.
• Last will and testament. Ensure your ex-spouse is removed as a beneficiary, executor, or trustee unless you want them to maintain these roles.
• Living will and healthcare proxy. Assign someone else as your healthcare decision-maker if your ex-spouse was previously named.
• Powers of attorney. Revoke any durable or financial power of attorney granted to your former partner and designate someone you trust.
• Emergency contact. Update your emergency contact with your employer to remove your ex-spouse, if appropriate.
• Health coverage. If your coverage was through your ex-spouse’s employer, explore COBRA options or secure coverage through your own employment.
• Workplace benefits. Check and revise beneficiaries for benefits like pensions, stock options, or profit-sharing plans.
• Deeds and titles. If property ownership changes, update the deeds and titles to reflect the new arrangements.
• Insurance policies. Beyond life insurance, review auto, homeowner’s, and disability policies for necessary adjustments.
• Ensure your digital life is secure by updating passwords and account recovery information.

Updating all of these documents doesn’t have to be done all at once. With the help of an experienced West Palm Beach family attorney, you can create a timeline tailored to your goals. Your attorney can also guide you through the nuances of Florida legal requirements to ensure all changes are correctly documented.

Have a Conversation with a Skilled Attorney

Do you want to learn more about how to protect your interests as you move to a new phase of life? Divorce is the end of one chapter, but it’s also the beginning of another. Talk to the legal team at Bruce S. Rosenwater & Associates about creating a fair divorce agreement and what paperwork needs to be updated. Schedule a confidential consultation today.