Monday, March 19, 2007

Things To Do After A Divorce

There is plenty of information out there about what to do before and during a divorce. There are few resources out there that help you figure out the things you need to do after a divorce to help you with your finances and your emotional well-being. Here are a few things that you should do after your divorce has been finalized:

1. Draft a New Will. Often times, if you have a will in place prior to a divorce, your spouse is listed as your main beneficiary. This should be changed to avoid any conflicts in the event of your death.

2. Change Beneficiary on Life Insurance Policy and Retirement Plans. Unless the Court has directed you to name your spouse as the beneficiary on a retirement or life insurance policy, you should change the beneficiary so that your spouse receives no benefits upon your death.

3. Create a Financial Plan and Monthly Budget. One of the hardest things to deal with after a divorce is living within your means on a lesser income. Making a budget and sticking to it can help you reduce the risk of financial disaster in the future.

4. Take Time For Your Children. The aftermath of divorce can be difficult on your children. Its important to establish new routines and traditions with your children that they can count on.

5. Throw Your Negativity Out The Window. Once a divorce is finalized, the parties often times have bitter feelings towards one another. While those negative feelings may be justified, a healthier attitude is to leave the negative baggage behind and move forward.

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