A Schwab Financial Consultant can help you:
- Discuss how to divide retirement and brokerage account assets.
- Update your investment plan to fit your new life: re-establish financial priorities and short/long-term goals.
- Continue saving and investing for your retirement to help ensure you meet your retirement goals.
Call us at 877-302-5886 or visit your local branch.
What to do on your own:
- Schedule a meeting with a divorce attorney; be prepared to discuss your financial situation, the disposition of marital assets, alimony, and child support.
- Take inventory of all shared and individually owned assets, such as bank/brokerage/retirement accounts, insurance policies, property documents, and tax returns from the last five years.
- Create an individual budget to see where you stand financially.
- If you are changing your name, take the necessary steps to make it official. Be sure to notify your employer, government agencies, personal accounts, and creditors.
- Review and update files for all personal accounts and property, including your estate plan, property titles, insurance policies, and beneficiaries of IRAs/401(k)s/life insurance policies.
- Request copies of your credit report and check them for accuracy.
- Meet with a tax professional to discuss your income tax-filing options and update your W-4 form as needed.
The information provided here is for general informational purposes only and should not be considered an individualized recommendation, personalized investment advice, or specific tax or legal advice. Where specific advice is necessary or appropriate, Schwab recommends consultation with a qualified tax advisor, CPA, financial planner, estate planning attorney, or investment manager.