Important financial details to remember when getting a divorce

When they are caught up in the drama of a messy divorce, many people often overlook small details, such as changing their will and testament or their beneficiary designations, according to Forbes magazine.

"In most cases, I think it might be a safe assumption that you probably don’t want your soon-to-be ex-husband to inherit all of your property," Jeffrey Landers, a divorce financial analyst, told the news source. "However, that is exactly what will happen if you haven’t prepared a new will or revised your current one and you die before your divorce is finalized."

In the case of a tragic accident, a pending ex could still claim all of his or her spouse's belongings and even move back in to their house. He or she would be in charge of the victim's medical directives and have financial power of attorney.

Anyone who is filing divorce should seek the help of financial and tax advisers and attorneys who are skilled in those areas. Monetary issues that get pushed to the background can take a disastrous toll on the newly single ex-spouse and children, according to the Financial Planning Association.  

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