Ending a marriage can be a traumatic experience for both parties involved. However, as some Connecticut residents are already aware, divorce can also be navigated with a degree of savvy that may allow one or both individuals to move foward more quickly and efficiently. Here are some ways to avoid common divorce-related pitfalls that can waylay a separation agreement.
Looking after trusts and other situations where a beneficiary is involved is a good first place to start. Quite often, spouses are the beneficiaries of life insurance and other previously agreed-upon trusts. Obviously, it would be a good idea to change the beneficiary to a trusted relative or a child in the event of a divorce.
Additionally, retirement accounts need to be taken into consideration. Individuals undergoing divorce proceedings are often so preoccupied with physical and immediate assets that long-term investments like retirement funds can be forgotten. This is not a good idea, as it becomes more difficult to change the beneficiary of a retirement fund the longer the fund is allowed to appreciate in value. It is best to deal with this right away, during the divorce itself.
There are many issues requiring attention in a divorce situation, and many directions an individual may take in trying to assess all of them. This is why Connecticut residents may benefit from the guidance of an experienced divorce attorney in dealing with their separation. An attorney understands the ins and outs of divorce law and what is required to ensure an equitable separation agreement. In seeking this support, both individuals can move forward happier and healthier in their new lives.
Source: Forbes, "5 Things You Need To Do After Getting A Divorce", Mark Eghrari, Feb. 26, 2016