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Service Alert: i-BusinessCapturePro, i-BusinessBanking™ (IBB), online, and mobile banking are temporarily unavailable during the Macatawa Bank conversion weekend. Access will resume on April 28. Learn more.
Resources
Industry Specific
Access all the commercial banking resources your business needs to succeed.
Recently Divorced Checklist
Recently Divorced Checklist
Name change (if you change your name, you will need to update the following:)
- Social Security card (ssa.gov)
- Drivers license or ID name correction (michigan.gov/sos/all-services/)
- Passport (travel.state.gov/content/travel/en/passports)
- Bank accounts
- Investment accounts
- Credit card and any other debtors
- Insurance policies
- Utilities
- Voter registration (mvic.sos.state.mi.us/)
Employer notification
- Inform employer of new marital status for necessary adjustments on tax forms
- Inform employer of any changes to beneficiaries on retirement plans
- Update personal information records
Health insurance
- Review family members covered under current health plan and make necessary revisions
- Apply for individual health coverage if uninsured
- Review the Cobra benefit options through ex-spouse
Legal considerations
- Review life insurance policies for adequate coverage
- Review long-term care or disability coverage
- Review trust documents or wills and make any necessary changes
Social Security/Veteran benefits
- Confirm your new Social Security benefit amount if you are currently collecting
- Check with Social Security Administration for eligibility information if you are older than 62 and married more than 10 years
- Contact the VA if you are entitled to any benefit as a Veteran
Financial considerations
- Create a monthly budget
- Review of current debt for rate, term, or consolidation options
- Retitle assets according to divorce decree
- Set financial goals to build wealth
- Review account ownership on bank accounts
- Close and distribute funds that are in joint ownership according to the divorce decree
- Open new bank accounts
- Review account ownership on investment accounts
- Transfer assets of investment accounts according to divorce decree
- Consider a review of asset allocation of investment accounts
- Review beneficiaries on bank accounts, insurance policies, and investment accounts
Taxes
- Seek advice from an accountant for new tax status
We’re here to help!
If you have questions, give us a call, schedule an appointment, or stop by one of our branch locations.
