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Separation or divorce

Your divorce  recovery checklist.

Separation is never easy but the right financial steps can help you protect what’s yours, regain control, and start your next chapter with clarity. Whether you’re preparing for divorce, navigating negotiations, or finding your footing after it’s finalized, this checklist outlines what to focus on at every stage.

Stage 1

Before the  
divorce is finalized

Everything might feel uncertain right now and that’s okay. The best thing you can do is start small: gather what you need, protect your information, and take one step at a time. Preparing now helps you stay grounded as things shift.

Gather key documents

Tax returns, bank statements, investment
accounts, mortgage details, and debts

Open a credit card in your name only

Get a copy of your credit report

Inventory joint and personal assets

Real estate, vehicles, retirement accounts, etc.

Begin tracking household income and expenses

Consult a divorce attorney

Consider a CDFA® who specializes in this area

Address outstanding medical or dental issues

Change passwords on financial and social accounts

Set up a private email and mailing address

Consider a PO Box

Stage 2

During divorce negotiations

This stage can feel overwhelming, with a lot of paperwork and decisions. It’s also a time to pause, ask questions, and speak up for what matters to you. You deserve a future that’s stable and fair—so don’t be afraid to advocate for it.

Carefully review the proposed settlement

Assets, debts, alimony, child support

Create a financial plan to identify gaps or changes to request

Understand tax implications of every asset you’re set to receive

Confirm health and life insurance beneficiaries are up to date

Discuss with your attorney and CDFA® whether a QDRO is needed for retirement plans

Consider short- and long-term housing needs

Stage 3

After the divorce  is finalized

Even after things are settled, there’s still a lot to adjust to. This is when you begin again on your own terms. Give yourself space to process, and then take steady steps to rebuild. There’s real strength in reclaiming your financial independence.

Open new checking, savings, and retirement accounts in your name only

Close or remove your name from joint accounts and credit cards

Update beneficiaries on insurance, retirement, and estate documents

Change your name (if applicable) and update official IDs

Revise your estate plan

Will, power of attorney, health care directive

Acknowledge and celebrate your financial independence

Let’s create a plan that  reflects your life now  and what comes next.

You don’t have to navigate this alone. Whether you’re just beginning to get organized or ready to map out your long-term goals, we’re here to help. Our advisors take the time to understand your full picture so we can build a plan that feels personal, doable, and aligned with the life you’re creating.

Get a free consultation

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*TMG’s Estate Planning services are provided through unaffiliated licensed estate planning services and attorneys partnered with TMG. TMG does not provide legal advice.

*TMG does not have practicing estate planning attorneys or provide legal advice.

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