You're going to be a single person again, and that means reorganizing your financial affairs. Here's a partial checklist of things you may need to do:
- Find a place to live.
- Open a new checking account in your name.
- Establish other lines of credit in your name.
- Pay off existing bills in your name.
- Prepare a budget.
- Make sure you have health insurance. If you are currently covered by your spouse's insurance, you are entitled to continue that coverage for a certain period of time.
- Start working on your financial independence. If you don't have a job, get one. Look into retirement savings plans offered by your employer or set up an Individual Retirement Arrangement (IRA).
- Seek help from welfare or private organizations.
- Evaluate the tax ramifications of your divorce. Remember that the person receiving alimony may have to pay income taxes on that amount; child support is generally not subject to income tax.
- Change your beneficiaries and revise your will.