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How Comprehensive Post-Divorce Planning Can Safeguard Your Future

October 4, 2010DivorceWayne Ward

In the immediate aftermath of a hotly contested and altogether bitter divorce, there is no question that you will feel great relief. You will finally be free to devote all of your attention to your children and planning your new post-divorce life.

However, while you understandably want to take some time to focus on yourself and your family, it is also very important to remember that you need to plan for your post-divorce future. After all, the divorce has more than likely changed your financial and personal circumstances.

Today’s post will briefly explore two issues that require prompt post-divorce action …

Financial Planning

As a newly single person, you will want to account for your new financial circumstances and any other major fiscal developments.

Proper post-divorce financial planning should typically address the following:

The potential purchase of life insurance, disability insurance and long-term care insurance. This is truly important if you have any children.
(Texas Family Code – Section 9.301 states that a former spouse is automatically revoked as an insurance beneficiary in the event of divorce.)
Securing/establishment of a checking account, savings account and credit card. These steps can help establish a strong credit history.
Formation of a comprehensive budget that accurately depicts your new economic circumstances (including any spousal support and/or child support payments/income). You will also want to include all outstanding debts.

Legal Documents

As a newly single person, you will also want to create/update legal documents that reflect your new personal circumstances and honor your wishes. Documents that typically need to be updated include a will, durable power of attorney and/or living will.

To learn more about divorce or post-divorce planning, contact an experienced and skilled legal professional.

This post is for informational purposes only and is not to be construed as legal advice.

Stay tuned for more from our Ft. Worth family law blog …

Related Resources: Many Financial Hurdles Remain After a Marriage Ends (WVNS-TV)

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Knowledgeable, great staff, good results Knowledgeable, great staff, good results

Guest04678
4/20/2020
Child Custody Matter

killzz plays
3/11/2020
Mr. Ward is an energetic attorney who has developed clear definitions of proper legal pathways for solving complex social problems. My case involved the kidnapping of our daughter and other legal issues. It is clear that Alzheimers, dementia, and greed bring new components to our American Democracy. Mr. Ward is an exceptional lawyer and is perfect in his judgement of people and their actions. He is level-headed and focussed and at the same time empathetic and compassionate. He is a dedicated profession and his clients well-being. He is patient and communicates effectively with his clients throughout the legal process.

Robert Donovan
3/04/2020
I have the best lawyer! She is extremely personable. Which goes along way when you are dealing w a negative situation.

linda smith
6/26/2019
Greeted right when you walk it, gives off a homey feeling.

Michelle Rodriguez
2/10/2019
Gayla answers all my needs even after the case was closed 2 years ago. She's willing to service me and my needs. Attorney Wayne Ward you're team is amazing!

Lyndy Malaluan
8/07/2018
I retained Mr. Ward after careful research and a personal recommendation. You can't always believe what you read on a posted review. However, in my case I can only add to those endorsements. Mr. Ward's knowledge of the legal system and Texas law have been honed over 40 years. His reputation and relationships in Tarrant County have been built on integrity and respect. Mr. Ward is very personable and caring. He fights for what is right and just for all of his clients.
His office runs like clockwork due to a professional and caring staff. My experience in what was a difficult divorce was made immensely more favorable because of Mr. Ward and his team.

Karen P.
6/29/2018
If needed, I would choose to have him on my side of the table every time. I retained Mr. Ward after careful research and a personal recommendation. You can't always believe what you read on a posted review. However, in my case I can only add to those endorsements. Mr. Ward's knowledge of the legal system and Texas law have been honed over 40 years. His reputation and relationships in Tarrant County have been built on integrity and respect. Mr. Ward is very personable and caring. He fights for what is right and just for all of his clients. His office runs like clockwork due to a professional and caring staff. My experience in what was a difficult divorce was made immensely more favorable because of Mr. Ward and his team.

Karen
6/29/2018
I retained Mr. Ward after careful research and a personal recommendation. You can't always believe what you read on a posted review. However, in my case I can only add to those endorsements. Mr. Ward's knowledge of the legal system and Texas law have been honed over 40 years. His reputation and relationships in Tarrant County have been built on integrity and respect. Mr. Ward is very personable and caring. He fights for what is right and just for all of his clients.
His office runs like clockwork due to a professional and caring staff. My experience in what was a difficult divorce was made immensely more favorable because of Mr. Ward and his team.

Karen P.
6/29/2018
Wayne and his staff are extremely hardworking and absolutely dedicated to their clients. They truly care about the people who walk into their office needing help. They are smart and diligent and some of the nicest people I know.

Kelly D.
3/31/2018
Wayne Ward = Results Mr. Ward and his office are highly recommended for their professionalism, timely response, knowledge of the law and how it applies to a family law case and for the successful results that come from prioritizing the needs of the client.

anonymous
3/12/2013