What Documents Do I Need to Update After My Illinois Divorce?

 Posted on April 20,2020 in Divorce

It can be freeing to finally have your divorce finalized. Changing your marital status from married back to single can have a big impact on many areas of your life. For instance, if you changed your last name when you got married and are now changing it back, you will want to pay close attention to your legal documents and make note of the ones that need attention. Although updating these essential documents may not be your first priority, proactively updating them can save you time and frustration in the long run. 

Legal Documentation

Although it may seem like there is a lot of paperwork involved in dissolving your marriage, updating forms can ensure that your rights are protected and you receive everything that you are entitled to. Here are a few important documents you may need to update after your Illinois divorce:

• Will or estate plan: It is always a good idea to update your estate plan and your will throughout your life. The situation that was present when you wrote your will is likely to have changed, especially if you had named your spouse as a beneficiary. Following your divorce, you have the right to remove your ex-spouse’s name from your will.

• Power of attorney:  You may have included your spouse when you drafted your power of attorney. This document gives your spouse the ability to make decisions about your health, finances, and other affairs if you are unable to do so. You may wish to update this agreement to name a different person who will have that authority.

• Beneficiaries: If you have your ex-spouse listed as a beneficiary on any of your accounts, he or she can still receive money, even if you have rewritten your will. Be sure to remove your ex-spouse as a beneficiary from your IRAs and 401(k)s, as well as any other financial accounts that would automatically transfer to him or her upon your death.

• Insurance plans: Lastly, you will want to make sure you update your health insurance and life insurance policies. If you were on your ex-spouse’s medical insurance plan, you will have to obtain your own plan, which can also include dental and vision benefits. If your ex-spouse was on your plan, you should adjust your plan as needed to provide coverage for yourself, as well as your children, if necessary. In addition, you may want to name a person other than your ex-spouse to receive any life insurance benefits in the event of your death.  

Contact a Kendall County Divorce Attorney 

Getting a divorce involves many steps, but getting your life on track after your divorce can also seem complicated. Securing your future may involve updating certain legal documents to reflect your new status. At the Law Office of Matthew M. Williams, P.C., we can help you keep your priorities in check during and after your divorce. Our skilled Oswego divorce lawyers will protect your rights and ensure that you receive your fair share of the marital estate. Call us today at 630-409-8184 to schedule a private consultation.

Sources:

https://www.forbes.com/sites/jefflanders/2013/12/04/divorcing-women-dont-forget-to-update-these-key-documents/#3a7d1e27cda4

http://www.ilga.gov/legislation/ilcs/ilcs5.asp?ActID=2086&ChapterID=59