Once the final judgment is entered, most exes just want to move on.
But first, you should take care of a few things likely to be forgotten if not attended to promptly. (Some of these may have been handled already, but it is worth double-checking.)
- revoke any medical power of attorney, living will or health care surrogate designation of your ex
- execute a new health care surrogate designation, living will or medical power of attorney naming someone else
- revoke any will designating your ex as your personal representative / executor and/or beneficiary
- execute a new will designating someone else as your personal representative / executor and substituting another beneficiary for your ex. Also, designate a guardian for your child(ren) in case your ex dies first or is unable or unwilling to serve
- amend any trust designating your ex as a trustee and/or beneficiary
- revoke any general power of attorney in favor of your ex
- execute a new general power of attorney appointing another agent
- change designated beneficiaries on non-probate property, such as life insurance policies, IRAs, 401(k)s, pensions, death benefits and annuities
- change designated beneficiaries on non-probate property such as POD (payable on death) accounts and re-title joint accounts with your ex
- update titles on real property and homeowners insurance policies, and borrower on note and mortgage (see settlement agreement and/or final judgment)
- update titles on motor vehicles and related insurance
- set up a trust / amend trust trustee designation for any assets your child will inherit in the event of your death so that your ex will not have control of the assets and
- close any joint credit card or charge card accounts with your ex
Read more in this Green Bay Press-Gazette article: Estate planning after a divorce.
