Post-Decree Action Plan
Implementing a Separation Agreement on your own can be daunting, yet it is essential that you take action immediately. Here are some of the action items I can guide you through, even when you must do them for the very first time.
- Set up accounts and expense categories in Quicken.
- Track your spending by each expense category and develop a budget using the Quicken budgeting tool.
- Track cash flow monthly.
- Routinely review Separation Agreement–make sure each party is in compliance.
- Select proper asset allocation and invest divorce settlement funds for short– and long–term needs.
- Monitor your investment performance and make sure you are not outspending your nest egg.
- Manage process of separating one household into two, such as updating:
- auto, property and life insurance policies
- investment account beneficiaries
- checking and saving accounts
- cancel joint credit card accounts, establish new credit in your own name
- Sell the marital home (if required), qualify for a new loan, purchase a new home.