Five Practical Steps To Take After Your Divorce
Calabrese Budner Helps Navigate The Aftermath of Breaking Up
BY PC Studios // 03.08.24
Calabrese Budner gives advice on how to navigate the aftermath of a divorce.
This article is promoted/partner content and not produced by the editorial staff.
What are the changes you need to make post-divorce? Seasoned divorce attorney Britney E. Harrison, partner at the family law firm Calabrese Budner, explains how legal, financial, and emotional support professionals can help navigate the complexities of post-divorce adjustments and ensure a smoother transition to a new chapter in life.
Divorce is hard — and, unfortunately, the difficulties don’t evaporate when the judge signs the divorce decree. Fortunately, there are active steps you can take to ease the healing and rebuilding process and prevent problems that can hold you back. When you work with an experienced divorce attorney who takes a comprehensive approach to the process, you lay the groundwork for many of these steps while your divorce is still in progress. Based on my experience protecting clients’ interests in complex divorce cases — and as a survivor of divorce myself — here are five steps I believe to be crucial to take after a divorce if you want to position yourself to move forward.
Step One: Develop a Financial Plan
Divorce changes your financial situation in drastic ways. Hopefully, you worked with a financial professional during the process, and your attorney secured your rights to your separate property and fought for a fair division of your marital assets and liabilities. Your attorney likely ensured that you have continued access to the health insurance through COBRA if necessary and obtained a Qualified Domestic Relations Order to access your share of your spouse’s retirement assets. These steps were crucial, but there is still much more to do.
You need a budget based on your new financial landscape, with short- and long-term plans. If you took a share of retirement assets, talk to a financial professional to determine the best course of action, such as rolling assets into another retirement vehicle.
You are starting over in many respects, and the assumptions that you have worked with for years may no longer serve your best interests. It’s hard to evaluate all the factors, which is why working with a professional can prove invaluable. However, you also need to take practical steps, such as updating all your bank and credit card accounts to ensure that your former spouse no longer has access.
Step Two: Take Care of Your Mental and Emotional Health
The end of a marriage is a profoundly emotional loss, much like the death of a loved one. You lose the hopes and dreams of the future and grieve the passing of a relationship that once held so much promise. To heal and move forward, you must allow yourself to go through the whole grieving process.
The one thing that helped me the most after my divorce was working with a personal counselor. While I could share some things with my family and friends, I needed to talk to someone who was more objective. I also did not want the focus of every conversation to be on my divorce, which, at the time, made me feel like a failure. Working with a counselor provided a safe space where I could vent my feelings, work through the loss, and rebuild my confidence. And, of course, since my counselor was trained to help people like me process grief and move beyond it, each session led me closer to a sense of release and freedom. Without those counseling sessions, I would not have adequately processed the emotions, and my personal growth would likely have remained stalled.
Step Three: Update Your Documents
One way I frequently assist clients in divorce is to incorporate a change of name into the divorce decree. If you decide to make a name change later, an attorney can assist in the process to avoid mistakes that could cause you future problems. After changing your name, you need to ensure that the correct name appears on all official documents and accounts. This includes identification such as your driver’s license, passport, and Social Security card, but also the name listed with the post office, the name on your bank accounts, and even the name on your airline miles programs. In particular, if you were awarded the residence, you need to ensure that your new name appears on the deed.
Step Four: Change Your Estate Planning Documents
You should make an appointment with an estate planning attorney to prepare a new will, power of attorney, healthcare directives, and other documents. You must also change the beneficiary clauses on your retirement and bank accounts and your life insurance policy.
It is wise to review these documents and clauses regularly anyway, so while this is a very involved task, it is essential, particularly when you have children. Dealing with end-of-life is an emotional process. When all of these documents are prepared ahead of time while everyone is healthy, it will save your loved ones considerable stress.
Step Five: Evaluate Your Insurance Policies
As an attorney, I often remind clients not to overlook insurance issues both during and after divorce. If your spouse always handled insurance issues and you need to set up your own policies, the process can be confusing. Don’t be afraid to ask questions and seek advice.
If policies for home or auto insurance are in your name already, you may be carrying more insurance coverage than you need, so this is a good time to potentially cut costs by evaluating your policies.
The Right Professionals Can Make All the Difference
Assembling the right team of professionals can make all the difference during your divorce and afterward. In my practice, I consistently see that those who are open about seeking help when needed are the ones who adjust to their new life the most efficiently after the divorce. Your divorce team understands the challenges you are experiencing, and we are ready to help.
To learn more about Calabrese Budner and their expertise, visit calabresebudner.com or call 214-939-3000.