When looking at the different financial considerations around divorce—pre-divorce planning activities, gathering data about expenses, and building the right team for an optimal outcome— it’s equally important to explore the many aspects of a post-divorce life and continued diligence. After taking a breath or two, there is more to be done but with an eventual end in sight.

Update a Trust & Estates Plan and Accounts

It is critical to update a trust  and estate plan, including a will and powers of attorney, both medical and financial. Depending on the advice of the family law attorney, this may or may not have been updated during divorce proceedings. If not, post-divorce, update all documents immediately. Spend time thinking about who should have the responsibility to make financial and/or medical decisions if one cannot make them for him or herself. Different individuals can be named for financial and medical powers; they do not need to be the same person.