Things You Can Do Help Get Your Affairs in Order
This checklist was created to help you organize your affairs after a divorce. Your individual situation will dictate other items which may need to be addressed. We suggest discussing your plans with the executor of your will as well as consulting with your legal, financial, and tax advisers. The time to get these professionals involved is before an event occurs – plan ahead. Select a few items below to get your momentum started and then continue through the list focusing on what you find most important. Your financial planner can help you organize and prioritize which topics to tackle first.
If you removed your ex-spouse from your estate plan, your beneficiary designations should reflect your updated wishes. If you don’t name a beneficiary, or if the beneficiary is deceased, a court could be left to decide the fate of your funds. Unfortunately, a judge who is unaware of your situation, beliefs, or intent is unlikely to make the same decision you would have made.
Taking action on these items will help prepare you for your new financial future. And staying as organized as possible with your paperwork is a wonderful gift for your loved ones. Planning ahead and making them aware of your wishes will demonstrate how much you care for them and set an example for their families. For more information about how Modera can help you through this process, please reach out to our team of advisors. Or contact us at firstname.lastname@example.org.
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