Divorce And Your Money - #1 Divorce Podcast

This is the final episode in a 7-part series on your post-divorce finances. Some documents and accounts need to be updated by the time your divorce is finalized (or as soon as possible after it is finalized). This practice can potentially prevent many future problems.   One set of documents involves estate planning. They contain details about what should be done in the event of your death or incapacitation. The first thing to consider is the last will or trust, which lists the beneficiaries who will receive your assets or property when you pass away. If your ex-spouse is included, this information may need to be changed.   Another set of documents is called a medical power of attorney or medical proxy. This document lists the person who will be in charge of making medical decisions if you cannot.  A similar document is the financial power of attorney, which also needs to be updated if you do not want your ex-spouse making financial decisions in the event of your incapacitation. These documents are fairly easy