FINALLY!

After an emotional roller coaster, you receive that 8 ½ by 11 manila envelope with your divorce decree signed by the judge. You are officially single again. Whether you choose to celebrate or mourn, remember that there are still important tasks to take care of right away.

Review Your Decree - First, make sure you fully understand the contents of your divorce decree and what has been awarded to you. You may need to prepare a Qualified Domestic Relations Order or QDRO to split a retirement plan. Don’t delay—start this process now to ensure a timely division of the account. This is also an excellent time to meet with a financial advisor to map out your new financial plan, open any new accounts, and consolidate any old ones.

Review All Accounts- make sure to remove your ex-spouse’s name from all existing accounts, including utilities, bank accounts, credit cards, and insurance policies. If you don't have a credit card in your name alone, now is the time to get one. It's important to establish your own financial identity.

Get Organized– If you don't already have one, set up a filing system for all your important financial documents and any statements you need to keep for taxes. If you're comfortable with technology, this system can be entirely electronic, but it's essential to have one in place.

Review Estate Docs– Update all the beneficiaries on your accounts and insurance policies immediately. There have been horror stories of ex-spouses inheriting large 401(k) plans because someone forgot to make these updates.

Write a New Will– Everything has changed, so make sure your new wishes are clear to avoid any confusion. If you had any trusts in place, you’ll need to terminate them and create new ones.

Receiving your final divorce decree marks the start of a new chapter in your life. While you might feel a mix of emotions, remember that this change can lead to a healthier, more well-rounded, and happier you. The administrative tasks may not be enjoyable, but with each step, you'll feel your new independence and identity taking shape, helping you to heal and grow. Embrace this opportunity to create a brighter future for yourself.

Today marks a new beginning for you. Embrace it and make the most of this fresh start.