Going through a divorce can be difficult. There’s a lot you have to consider such as asset division and child custody agreements. It’s easy to overlook some of the things you may want to do once the process is over.
Here are four things to do after divorce:
1. Spend time with your kids
If you have children, you’ll likely make a child custody agreement that outlines what days and times you have for visitation. You’ll have a lot more time to spend with your children after a divorce. Your children may even need you to spend more time with them as they process new changes in their lives. During this time, you can form new memories with your children and show them that you’ll still be there for them.
2. Update your estate plan
Many people include their significant other in their estate plans. Their spouse may inherit from the testator’s estate or be named power of attorney so that they can act on behalf of the testator during medical emergencies. After divorce, you may wish to reevaluate your plans and make some changes. That may mean naming your children or siblings to inherit more from you or changing your powers of attorney.
3. Create a budget
Most couples get used to the idea that their finances are intertwined. This can help couples make larger investments, such as buying a new home or car or planning for a child. After divorce, however, you’ll be limited to what you make. As such, you likely will have to consider downsizing your investments and saving up by yourself.
4. Change your online passwords
Everyone has a unique online password that shouldn’t be shared with others. But, couples often let their significant other in on their passwords or use the same passwords so that accessing bank accounts is easier. If this is something you’ve done, then you may need to consider changing all of your passwords. Your ex-spouse may not access your accounts, but it’s often better to stay on the safe side.
When handling divorce matters, you may need to learn about your legal options. Having a strong understanding of asset division and child custody may help you get a desired outcome.