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Estate Organization After a Divorce Checklist

Use this Estate Organization After a Divorce Checklist to navigate the essential steps for updating your estate planning documents and managing your assets post-divorce.

  • Understand the Terms: Carefully read the divorce decree to understand how assets and debts are divided.
  • Identify Obligations: Note any ongoing obligations, such as alimony or child support.

  • Revise Your Will: Modify your will to reflect new beneficiaries and remove your ex-spouse if applicable.
  • Update Trusts: Revise any living trusts or other estate planning documents to ensure they align with your current wishes.
  • Change Power of Attorney: Update your financial and medical power of attorney to appoint a new agent if desired.

  • Financial Accounts: Review and update beneficiary designations on life insurance policies, retirement accounts, and bank accounts.
  • Transfer on Death (TOD) Accounts: Ensure TOD accounts are updated to reflect your current wishes.

  • List All Assets: Create a detailed list of all assets acquired during the marriage, including real estate, vehicles, and personal property.
  • Document Debts: Make a list of all joint and individual debts to understand your financial obligations moving forward.

Gather Key Documents: Collect important documents such as:

  • Divorce decree
  • Wills and trusts
  • Financial statements (bank accounts, investment accounts)
  • Insurance policies
  • Property deeds and titles

  • Review Financial Plans: Assess your financial situation post-divorce and adjust your budget and savings goals.
  • Consider Estate Planning Goals: Reflect on your long-term goals for your estate, including any changes in wishes for your children or other beneficiaries.

  • Estate Attorney: Consider hiring an estate attorney to ensure your documents are updated correctly and in accordance with state laws.
  • Financial Advisor: Consult a financial advisor to help you navigate financial changes and make informed decisions regarding your estate.

  • Discuss Changes: Inform family members about any changes in your estate planning documents and who the new beneficiaries are.
  • Consider Children’s Interests: If you have children, discuss how changes may affect their inheritance and your wishes for their care.

  • Consider New Estate Plans: If planning to remarry, think about how your estate planning will need to be updated again.
  • Discuss with New Partner: Have open discussions with your new partner about estate planning and beneficiary designations.

  • Set Reminders: Schedule annual reviews of your estate planning documents and financial situation to ensure they remain current and aligned with your wishes.
  • Update After Life Changes: Be proactive about updating your estate plan after significant life events (births, deaths, or significant financial changes).

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The average estate takes 570 hours to administer.

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