When you get married, there is a lot that one has to remember to do or change. Things like changing a last name where required, making sure to obtain a copy of the marriage certificate and many others. One may even open joint bank and credit card accounts, or buy a house in the name of both parties. What few people in Minnesota may consciously think of is that the same has to happen in reverse when in the case of divorce.
One of the more important things to do is to change personal information at the bank. The most obvious account information to change is credit card information, but this is not the only change needed. Joint accounts, both savings and checking, have to be closed, while the details on insurance policies should be updated and corrected.
While it may seem easier and less time-consuming to just ask to have the name of an ex-spouse removed from a joint account, this is not the case. Removing a name from an account may turn into a complicated process, as very specific steps have to be taken. It may be easier to just start afresh. The last thing someone needs is for an ex-spouse to suddenly find a way to withdraw money from what was previously a shared account.
The financial uncoupling process should not be underestimated — it is complex. It may be beneficial to schedule an appointment with a Minnesota divorce lawyer, especially if one finds oneself just wanting the whole thing to be over and done with. An experienced lawyer can not only help one set priorities, but also complete some of the tasks on his or her client’s behalf.
