Suggestions for Post-Dissolution Planning

Suggestions for Post-Dissolution Planning

Suggestions for Post-Dissolution Planning

Parenting Issues:

  1. Update contact information for both parents with schools, daycare, medical providers, organizations
  2. Arrange for sharing of information; provide copies of Parenting Plan, as appropriate, with schools, daycare, medical providers, organizations (Scouts, sports, music lessons, etc.)
  3. Arrange for payment of child support and daycare by DCS or Electronic Funds Transfer
  4. Create log and/or calendar for children’s residential time, issues, activities and expenses (check online for some great resources!)

Qualified Domestic Relations Order (QDRO):

  1. If QDRO needs to be done per Separation Contract, follow-up with your attorney to finalize QDRO
  2. Advise attorney after QDRO approved, and distribution made per terms of QDRO

Transfer of Title, Ownership and Possession:

  1. Execute Quitclaim Deeds, Excise Tax Declarations, notice to assessor to transfer real estate ownership and obligations
  2. Sign off on motor vehicle and boat title documents
  3. Notify and change names with custodians/administrators of stock and financial accounts (may need certified copy of decree of dissolution)
  4. Pick-up/deliver/transfer personal property
  5. Copy photographs and valuable papers (tax returns, house documents, warranties)
  6. Keep original property settlement agreement/separation contract and copy of divorce documents in a safe, secure location!
  7. Notify banks, DOL, Social Security, and change passports for any name change(s) for self and/or children. You will need certified copy of the final decree (changing your name) for SSA and passport agency. A conformed copy is usually sufficient for other purposes.

Update Financial Accounts:

  1. Open bank and credit accounts in own name solely
  2. Close accounts in joint name or remove names of others
  3. Remove other’s names from credit accounts
  4. Correct billing names on household utilities accounts; Internet accounts; and IRS Section 529 and GET accounts (tax-sheltered education accounts for children)

Pre-Death and Health Care Planning:

  1. Arrange for COBRA (or health care insurance); arrange for or transfer auto insurance; life and premise (homeowner) insurance; boat owner’s insurance
  2. Update Last Will and Testament
  3. Amend Living Trusts, if any.
  4. Execute new Durable Power of Attorney – Health Care Decisions
  5. Execute new Durable Power of Attorney – Financial Decision-Making

Change Beneficiaries:

  1. Life insurance and disability policies (check your final divorce papers for life insurance requirements as to child and/or spousal support)
  2. Pension and Retirement accounts
  3. Deferred compensation plans
  4. Employment benefits
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