Review Your Insurance Coverage
Your name and your spouse’s name needs to be on the automobile insurance policy. The majority of Missouri automobile policies cover the “named insured and members of the household.” If there is a single name on the policy this means that the other person is not covered when separation occurs because that party is no longer a “member of the household”. If your name is the only name on the policy, you may still have some problems. Should the unnamed party finds themselves in an accident and are not insured since they are no longer a “member of household” your assets could be at risk to pay for damages the uninsured party is held liable for. So it is suggested that you make sure their name is on the policy to protect them which in turn protects yourself.
Check your homeowner’s insurance for coverage for personal property like jewelry, furniture, appliances, clothing etc. because it won’t cover these items that were moved to a new address.
Check with your plan administrator to determine the named beneficiary on your insurance and/or employee benefit plan and determine what the policy is for changes.
Protect Your Good Credit
Charges made by your spouse are still your responsibility on joint credit accounts, whether you are aware of the charge or not. This is true before your divorce and after the divorce. If you want to limit your exposure in the future, you will need to notify each creditor that you will not pay for debts incurred by your spouse.
Request a copy of your credit report to give you the information necessary to determine what your credit situation is and make note of debts that you were not aware of, or forgot about that you are still jointly responsible to pay.
There are three credit bureaus in the United States; Equifax, Experian (formerly TRW), and Trans Union. You may request copies of your credit report from these companies by contacting them at the following: