Divorce creates big changes in an individual’s life. These changes can make it necessary to update documentation created after marriage. Women especially have a lot of paperwork to change after a divorce as they typically take their partner’s name in Florida. Driver’s license, passports and even degrees are just a few of the documents you may wish to update as an ex-wife, especially if you decide not to keep your ex’s name.
The documents men may need to update fall on women’s to-do lists as well. This may include insurance policies, tax forms at work and beneficiaries on accounts. In addition to this, couples may wish to review some documents together during the separation process.
The prenuptial or postnuptial agreement
Forbes notes that if a couple had either of these documents in place, they may wish to revisit them before finalizing anything. Sometimes the prenuptial agreement too narrowly defined assets and failed to take into account more recently acquired property or debt. Amicably separating couples may wish to review this agreement during the separation stage if they are not sure they want a divorce or when.
The working spouse(s) may have saved up a great deal in their 401k account. It is only natural that you may wonder how to go about dividing this up fairly. Fair is relative and will depend on the full agreement between the two spouses. Some exes may decide not to touch the 401k at all and divide up other assets to cover for it. Note that in most states, you have to wait until you have finalized the divorce to change beneficiaries on life insurance, savings accounts and 401ks.
Loans and titles
During a marriage, it is normal to cosign on a spouse’s loan or own property together. Some couples have joint bank accounts, joint credit cards and own both the home and cars together. There are couples that start the asset separation process before even filing for divorce, while others may even wait until after the fact. You may also need to refinance loans and pursue quitclaim deeds.
There are several other documents you may need to update during and after a divorce. Women who changed their names after marriage especially need to double-check what documents need to be changed back if they drop their ex-husband’s names.
This article is purely informational. It should not be used as or in place of legal advice.