Checklist #41 · Life Events
Financial Planning for Divorce
Navigate asset division, debt allocation, and financial independence — with clarity and structure during an emotionally complex process.
18 action items~25 min to complete4 sections
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Gather All Financial Information',
0/5 completed
Pull statements for all joint and individual accounts: bank, brokerage, retirementKey
Document all real estate owned jointly or individually (deeds, mortgage statements)
Compile all debt documentation: mortgages, car loans, credit cards, student loans, personal loansKey
Gather recent tax returns (3 years), pay stubs, and business valuations if applicableAction
Document assets acquired before marriage as separate property with evidenceWatch out
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During the Process
0/5 completed
Open an individual checking account in your name only before accounts are frozenKey
Stop making large joint purchases and document shared account activityWatch out
Understand whether your state is community property or equitable distributionAction
Get a QDRO (Qualified Domestic Relations Order) to divide retirement accounts without tax penaltyKey
Understand the tax implications of dividing assets — not all are equal after-taxWatch out
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Update Everything Immediately Post-Divorce
0/4 completed
Remove your ex-spouse as beneficiary on all retirement accounts and life insurance policiesKey
Update your will, powers of attorney, and healthcare directivesWatch out
Close or remove your ex from all joint credit cards and bank accountsKey
Refinance jointly held debt in your name alone (or have it refinanced in theirs)Watch out
🌱
Rebuild Your Financial Foundation',
0/4 completed
Build a new budget based on a single incomeKey
Establish or rebuild your own emergency fund (3–6 months)
Check your credit score and take ownership of building it independentlyAction
Revisit and set new financial goals as an individualKey