Wealth with Intention
Money Wisdom for Your Next Chapter
How to Manage and Invest Your Financial Settlement After Divorce
What should you do with a divorce settlement?
Park the money somewhere safe, wait 60 to 90 days before making any permanent decisions, and then invest it according to when you will actually need it. A settlement is not one pot of money. It is several different kinds of money with different tax rules, and treating it as a single number is the most expensive mistake women make in the first year after a divorce.
This article is about what happens after the decree is signed. If you are still negotiating, still waiting on a QDRO, or still deciding which assets to ask for, that is a different set of questions. Intentional Divorce Solutions covers that ground in detail, starting with how to divide assets in a divorce.
The first 90 days: do less than you think you should
There is enormous pressure to act quickly. Your attorney is done. The accounts have transferred. Everyone around you has an opinion about what you should do with the money.
Do less.
The only urgent items in the first 90 ...
Tips for Changing Your Name After a Divorce
Did you recently change your name as part of your divorce? If so, it's time to get it updated everywhere.
First Steps to Changing Your Name After a Divorce
When you have your final divorce papers identifying your name change, your first step will be to contact the Social Security Administration to legally change your name on your Social Security Card. The details of what you’ll need are listed out on their website under "corrected card" (https://www.ssa.gov/ssnumber/ss5doc.htm).Â
You can either visit your local social security office or send your documentation by mail with form SS-5. Your social security number will not change - just the name associated with your social security number. It typically takes at least two weeks to receive your new card in the mail, so you can take this time to make a list of all the places where your name will need to be changed. The IRS is automatically notified when you update your information with the social security administration.
Once you receive you...
Post-Divorce Security Tip: Change Your Logins!
Post-Divorce Tip:Â Update Your Passwords
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Leah Hadley, AFC®, CDFA®, MAFF®
Founder/Senior Wealth Manager
Leah Hadley is the founder of Intentional Wealth Partners and Intentional Divorce Solutions, sister companies based in Cleveland and serving clients nationwide. Intentional Wealth Partners provides financial planning and wealth management. She specializes in helping women and couples navigate major life transitions with confidence and clarity. She is also the author of Intentional Money: The Modern Woman's Guide to Building Wealth, Purpose, and Peace, host of the "Intentional Divorce Insights" podcast, and a sought-after speaker.
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