divorce checklist

The Divorce Financial Checklist for the Recently Separated

While an estimated 45% of all marriages in America end in divorce — one every 15 seconds — no situation is quite the same.

There is heartbreak, of course, but many personal variables to consider. Are there kids? Are there multiple properties? Is there a prenup? Is there a shared bank account or equal investments? 

The Comprehensive Divorce Financial Checklist

It’s a lot to take in and consider. But for those recently separated and on the way to divorce, it’s vital to think clearly and thoroughly about your personal financial status and how that may change post-divorce. Here are some must-include items on your divorce financial checklist.

Everyday Banking 

All aspects of your finances need to be reviewed as part of an effective financial checklist. That includes basic, day-to-day banking and bank accounts.

A divorce agreement will likely divide balances between spouses in some way, but then you should prioritize ending savings, revolving credit, and checking accounts that are held jointly.

Then you’ll need to create new checking and savings accounts in your own name, as well as ATM and credit cards.


If you have a mortgage lender, letting them know about your separation and pending divorce is a big priority on any divorce checklist. You may also need to speak with your rental unit manager or landlord if your spouse is on a lease. 

In a divorce, there may need to be a settlement of the shared estate and in that case, you and your spouse should figure out who will be covering the mortgage payment in the meantime.

If utilities are in your name and you’re leaving a shared home, take your name off of the accounts. If you’re staying put, take your spouse’s name off any utility bill. 

Gather Financial Documents

There is a lot of important information to collect as part of a divorce financial checklist. Be sure to gather anything involving money, including insurance policies, bank statements, investment or business papers, tax returns, and car registrations and titles. 

Then create your own divorce document, noting all debts, income, and additional assets that will help make the property settlement go smoothly. It’s also helpful to note information about both of your employers, as well as current salaries and extra financial benefits tied to work. 

couple sitting at table filling out paperwork with text divorce financial checklist

Make A New Budget

Don’t wait until you’re officially divorced to start planning for your new life financially. Start things off right with a new budget just for you, including a rundown of your needs, wants, and expected monthly income.

In addition, it’s a good time to either start an emergency fund or come up with a new, realistic goal for savings.

Review Beneficiaries

The majority of people make their spouse the sole beneficiary of insurance payouts or investment earnings. Be sure to double-check all of your financial accounts that earmark a beneficiary and change them when applicable. 

It’s also a good time to amend an estate plan or make an entirely new one. Estate planning may include a living will and a trust, and also dictates power of attorney for health and financial decisions. All areas may need to be reevaluated in light of a divorce.

Refine Retirement Plans

Some issues may arise if you neglect your retirement plan as part of a divorce financial checklist. In addition to making sure beneficiaries are updated on your retirement accounts, look into whether you need to make any moves related to a soon-to-be-former spouse’s retirement plans that are sponsored by their employer.

You may be entitled to retirement assets and qualify for part of rollover IRAs that are in your name. 

Consider Payday Loans For Financial Emergencies

The transition from marriage to divorce and being single can be challenging to navigate especially when an unexpected financial issue arises.

Payday loans are short-term loans offering small amounts of cash specifically designed to help those coping with unexpected financial pressures between paychecks, such as a hospital bill or a car or home repair.

They are easy to qualify for in as little as 30 minutes and are generally paid back on your next payday. At Fast Payday Loans, Inc. of Florida, we offer loans of up to $1,000 for those who qualify.

It all starts from the comfort of your own home. Just fill out the short online inquiry form on our homepage. Once submitted, one of our loan representatives will give you a call to discuss the payday loan required items and guide you through the rest of the quick process.

Once you qualify and are approved, the cash you need is yours either the same day or the next business day.

person receiving florida payday loan cash

Get Started Today 

A well-thought-out divorce financial checklist can be a lifesaver as you enter a new phase in your life. However, financial emergencies can happen to anyone at any time. If you need a little extra help, consider a payday loan as an option for relief.

Just start on our homepage, give us a call, or visit us today to see how a payday loan may help.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

June Mckaig

June Mckaig writes articles on finance and budgeting, hoping to provide insight amidst the overwhelming crowds of information on the internet. She feels that with all this accessibility comes a lot of false data, and she would like to contribute astute, helpful input that she knows can help others. If you would like to learn more about June's research, read more here.