Macatawa and Wintrust Announcement
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Recently Divorced Checklist

Helpful tips for people that have recently experienced divorce. 

Name change (if you change your name, you will need to update the following)

  • Social Security Card (
  • Drivers License or ID name correction (
  • Passport (
  • Bank accounts
  • Investment accounts
  • Credit card and any other debtors
  • Insurance policies
  • Utilities
  • Voter Registration (

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


  • Seek advice from an Accountant for new tax status 

We're here to help!

If you have questions, give us a call at (877) 820-2265, schedule an appointment, or stop by one of our branch locations.

Schedule an appointment 

Find a branch 

This information is prepared and made available as a courtesy. Macatawa Bank does not provide legal advice; the information herein does not substitute legal or financial advice directed to your situation. We do not warrant the accuracy. It is recommended you consult with the appropriate professional for guidance and assistance.

Products offered by Macatawa Bank Wealth Management are: Not insured by the FDIC. Not a bank deposit, bank obligation, or guaranteed by the bank. Subject to investment risk, including potential principal loss.


We're happy to help.

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