Procrastination After Divorce Can Lead to Financial Woes in the Future
Getting divorced is a slog, and it is a relief to be legally single again. It is no wonder that some party planners in South Florida dedicate a page of their websites to divorce parties. You deserve to celebrate making it through your divorce and to share a toast to your new life with your friends and your family of origin. After the champagne bottles are empty and you have slept off your hangover, though, it is natural to want to put your divorce behind you and not think about that mountain of divorce paperwork ever again. Yes, filing taxes the first year after divorce is a pain, but even after you manage to do that, there still might be divorce-related administrative tasks to accomplish, and you might not be facing deadlines from the court or the threat of penalties from the IRS. It is a mistake to procrastinate tying up the financial loose ends after your divorce, in much the way it is a mistake for a first-year college student to focus exclusively on the ice cream station in the dining hall just because there is no one there to make him eat his vegetables. The best way to avoid the financial stress that comes with post-divorce procrastination is to keep working with your Boca Raton divorce lawyer even after your divorce is finalized, until all the loose ends are tied up.
Your Financial Future Now Belongs to You, and Everybody’s Celebrating
Think of it as a second after party, except that this time, the guest list includes your accountant, your divorce attorney, and an estate planning lawyer. The guest of honor, of course, is your marital settlement agreement or divorce judgment. The party does not end until you have implemented all of the items on this legally binding to-do list. These are some items with which you might need the help of your accomplished guests:
- Processing a QDRO to get a share of your ex-spouse’s retirement pension, if this was part of your divorce settlement
- Changing the beneficiary on your life insurance policy
- Refinancing your home mortgage, if this was a condition of you keeping the marital home
- Updating your employer-provided health insurance, if your divorce agreement involves a change regarding which parent is responsible for carrying health insurance for your children
- Revising estate planning documents such as your will, a medical power of attorney, and a springing power of attorney for financial matters
Putting off these tasks for 20 years is as easy as putting them off for a few weeks. If you procrastinate, though, you and your family could be in for a lot of stress when you retire or if you suffer a medical emergency.
Contact Schwartz | White About Overcoming Procrastination After Divorce
A South Florida family law attorney can help you implement the instructions in your marital settlement agreement or divorce judgment. Contact Schwartz | White in Boca Raton, Florida about your case.