While most states have back-up or statutory default protections to address post-divorce decree situations regarding the parties’ property that they fail to address in the martial settlement agreement or divorce decree, such as treating an ex-spouse remaining in a will as pre-deceased, many issues are not covered or the default solution may not be what the parties want. The failure of your divorce to address these issues can leave them open to future animosity and litigation. The best time to resolve them is before the divorce is final.
Some often neglected issues that should be resolved before the divorce decree is entered include:
- Property Titles. All property, whether real or personal, with a title document, deed, or registration should be signed, delivered, and recorded if necessary.
- Personal Property. All personal property allocated to a party should be in that party’s possession, including social media accounts and websites.
- Stocks and Bonds. All transfers of ownership and possession should be complete, recorded, and acknowledged.
- Retirement. All plans, benefits, and beneficiary designation changes or transfers should be complete, filed, and acknowledged.
- Will and Trust. All testamentary documents and trusts should be amended, signed, and acknowledged, and any other estate plan related documents corrected and modified.
- Powers of Attorney. Powers of attorney for property or for health care and health care directives should be revoked and new ones signed.
- Account Beneficiaries. Accounts that provide for transfers or beneficiaries on death or other rights, should be reviewed and all changes made.
- Insurance Beneficiaries. All policy beneficiary or ownership changes should be made, recorded, and acknowledged.
The attorneys at Brooks, Tarulis & Tibble, LLC have substantial experience in post-divorce protections. If you have any questions or concerns, please contact us.