Just because you’re divorced doesn’t mean that your ex can’t still take you to the cleaners later.
If you’re getting a divorce (or have just finalized your divorce) make sure you change who is listed as your beneficiary on all of your accounts and life insurance!!! If you don’t do this then the result could end up hurting your kids (or new spouse) long after your gone. Jeff Landers over at Forbes.com had a good article that looks at the problems that can occur if you’re not on top of your financial matters.
Here are 5 Things You MUST Do to make sure your ex doesn’t get everything after your gone:
- Change your life insurance beneficiary.
- Change the beneficiary on your 401K and retirement accounts.
- If you get remarried and want your children to get your retirement account and not your new husband then you should have him sign a spousal waiver form and return it to your retirement account administrator.
- Change any other investment accounts to your name only.
- Update your will. (And if you don’t have one take the time to create one.)
Jami Ferrell helps women who are going through some of the toughest times in their life. He is a divorce lawyer in Memphis, Tennessee and can be contacted at 901-754-1340 or by email at James@MemphisDivorceFirm.com. His office is located at 2255 S. Germantown Road, Germantown, TN 38138.
