5. Protecting your loved ones financially if you were to die


Life’s Financial Journeys

Heading Off to College
Getting Out on Your Own
Blending Two Lives
Having a Child
Emptying the Nest
Entering Retirement
Divorce
Death of a Life Partner
Military Life


Protecting your loved ones financially if you were to die. “What changes do I need to make to my estate plans after my divorce?”

While married you could rely on your spouse to take care of things if you became incapacitated or, worse, passed away. A person’s life insurance planning, estate planning and advance directives all require attention after a divorce.

The following subtasks may assist you in protecting your loved ones financially if you were to die. You will find detailed resources for these subtasks under the links in the right column of this page.

Subtask 1: Life insurance after divorce

Subtask 2: Update beneficiary designations on insurance, retirement plans, and other accounts

Subtask 3: Write a new will

Subtask 4: Designate who will make health care and financial decisions for you should you not be able to do so for yourself


Divorce Tasks

1. Dividing assets and debts
2. Revising your spending plan
3. Managing your health care plan
4. Managing continuing financial arrangements with an ex-spouse
5. Protecting your loved ones financially if you were to die

Protecting your loved ones financially if you were to die Subtasks

1. Life insurance after divorce
2. Update beneficiary designations on insurance, retirement plans, and other accounts
3. Write a new will
4. Designate who will make health care and financial decisions for you should you not be able to do so for yourself

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