Saturday, August 11, 2012

Serious Errors Can Occur Without Divorce Follow Up

By:  Carole L. Chiamp

One of the most important thing that must be done after entry of a judgment of divorce is to follow up.  You must be sure that all of the provisions of the judgment are completed.

Those tasks include:
  1. Taking each other’s names off of bank accounts, credit cards, automobile titles, change of beneficiary on insurance and retirement accounts.
  2. Being sure that qualified domestic relations orders are entered.  If not done and one spouse dies unintended consequences may occur.
  3. Amending estate plans.
  4.  Addressing tax returns for the year of the divorce.
  5. Developing a post-judgment budget and financial plan.
Some of these tasks can be done by you.  Others may need the assistance of an attorney or certified public accountant.  Don’t assume that, because you have a stamped judgment of divorce, that you have done everything that needs to be done.

For more information, please contact Breitmeyer Cushman PLLC.

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