When it comes to the divorce process, you want to make as few mistakes as possible. Having to carefully plan out each detail can be stressful and make you look forward to the day it’s over. But just because you finalize your divorce doesn’t mean you can’t still make mistakes regarding the end of your partnership. So here’s a few post-divorce mistakes you want to be sure to avoid.
Not Changing Policy Holders
Most people forget to update certain financial policies like insurance and retirement plans after a divorce. Which can turn out to be one of the biggest post-divorce mistakes you could make. Because companies honor the names on the policies, they don’t care about your marital status or if it changed. Instead, they will pay out the details of the policy to whoever’s name is on the account. Therefore, if you don’t change the policy names after divorce, your ex will still be your beneficiary and receive the money from the plan.
Not Signing Over Titles and Deeds
Not signing over titles and deeds is also one of the most common post-divorce mistakes. When couples purchase cars, houses, and property together, they usually put both names on the paperwork. Which means in order to sale those possessions, both names on the account will need to sign the items over. In addition, if you name is still on the item as an owner, you could be responsible for any taxes or damages.
Paying Child Support to Your Ex
In many divorce cases, couples may choose to work out child support on their own. But paying child support directly to your ex can end up becoming another one of these divorce mistakes. Without any evidence of payment, your ex can decide to take you to court after months of paying directly to them. As a result, you may end up paying more or paying twice. So always go through the proper processes to make your support official.
In short, just because you’re finalizing your divorce doesn’t mean there still aren’t steps you need to take or avoid. By not doing this things, you could end up making some big divorce mistakes that could end up costing you.