bruce1
Full time employment: Posting here.
My Cousin has left her husband of nearly 19 years and moved into an apartment that I own (I live downstairs) with her daughter (16). Her son 18 and legally an adult is staying with her husband. She is employed and can make it on her own but a lot of things were in her husbands name only. They have both signed and agreed to a separation agreement leaving him the house and her her car (which was in his name). There is minimal equity in the house. .
We have got the car into her name with her own insurance (content and auto) being paid from her bank account.
We have changed the beneficiary on her life insurance to her children with me as trustee for minors. Same with her benefits package from her employer.
She has applied for a credit card and overdraft under her own name mostly for the purpose of establishing a separate credit rating. Her rating is Ok but needs activity.
We are working on an interim will and power of attorney (me as executor) to be in effect until the divorce is finalised when it will be updated if necessary.
There are no joint bank accounts.
Obtained cell phones for her and daughter in her name only.
Husband is to be responsible for mortgage payments after this month as per the separation agreement. We want to get her name off the house mortgage and deed ASAP to avoid possible credit problems in the case of default.
Have we missed anything?
She and her daughter are two of my closest four or five relatives so I do not want anything to mess up.
She is pretty strong and her and daughter are doing ok emotionally.
Thanks in advance.
Bruce
We have got the car into her name with her own insurance (content and auto) being paid from her bank account.
We have changed the beneficiary on her life insurance to her children with me as trustee for minors. Same with her benefits package from her employer.
She has applied for a credit card and overdraft under her own name mostly for the purpose of establishing a separate credit rating. Her rating is Ok but needs activity.
We are working on an interim will and power of attorney (me as executor) to be in effect until the divorce is finalised when it will be updated if necessary.
There are no joint bank accounts.
Obtained cell phones for her and daughter in her name only.
Husband is to be responsible for mortgage payments after this month as per the separation agreement. We want to get her name off the house mortgage and deed ASAP to avoid possible credit problems in the case of default.
Have we missed anything?
She and her daughter are two of my closest four or five relatives so I do not want anything to mess up.
She is pretty strong and her and daughter are doing ok emotionally.
Thanks in advance.
Bruce