Life Planning Checklist: Divorce
Going thorough a divorce is one of life's most stressful experiences. The last thing you need to worry about is what you're not doing right. We can't take away the pain, but LifePlan is here to help you understand your options so you can make the informed choices for your better future.
Wherever you are in the divorce process, we've compiled this checklist of considerations to help you level set and make sure you’re on track. It's organized by LifePlan offering, so you’ll know exactly which appointment to schedule for questions you could use some professional help answering.
Talk with a financial advisor about
Your options for achieving a financially fair settlement
How a divorce settlement could impact your financial health
The most cost effective way to finance a divorce settlement
Creating pre- and post-divorce budgets
Ask an independent attorney* about
Pros and cons of different divorce options and which makes the most sense for your situation
Legal documents you need to have in order
What spousal support you're entitled to and how it will be determined
Child support and custody matters
The laws in your state regarding changing a beneficiary during and after a divorce proceeding
How to have existing prenuptial agreements fulfilled
Discuss with a tax professional*
Changes to your tax filing status and how to claim dependents
Which legal fees are tax deductible and other deductible divorce related expenses
How to handle alimony and child support on your taxes
The tax implications of splitting assets?
What a property sale means for your filing status?
Get an insurance professional's* take on
Your former spouse's eligibility for insurance coverage?
Updating policy coverage and beneficiaries
How much life insurance coverage you will need in light of your new status
What happens to life insurance policies when dividing assets
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*DISCLAIMER: Legal advice is provided by an independent network of attorneys. Tax advice is provided by 1-800Accountant, insurance advice is provided by Mylo, our trusted service partners.