For the suddenly single, a new life is ahead of you. Have you re-established your credit? Have you taken your ex-spouse off of joint credit cards? Have you updated your estate plan? Do you have a durable power of attorney? Do you have an income strategy in place? A strategy that not only satisfies your current budget needs but income strategies that will last a lifetime.

All too often, I meet with individuals a year or two after the divorce only to find some basic details have not been taken care of. The divorce process is exhausting, to say the least. Who wants to address all of these issues with an attorney or financial planner when you finally have a signed and sealed agreement?

Most people are under the impression their attorney will guide them after the divorce is final. You need to be diligent and follow up on certain items yourself. For example, if your settlement agreement states you are to receive alimony or child support, it probably states that your ex-spouse it required to maintain or purchase life insurance to cover those payments should something happen to him or her. Has that been completed?

If you are to receive a portion or your ex-spouse's pension plan, a court must order a qualified domestic relations order, or QDRO. Due to the nature and complexity of QDROs, many attorneys outsource this to a specialist. Keep in touch regularly with your attorney or divorce team to make sure the QDRO is being processed in a timely fashion.

Have you taken your ex-spouse off of your car insurance, homeowners and umbrella policies? Have you updated all IRA accounts, annuities and employer sponsored retirement plans to reflect your current wishes? Make sure to update as soon as possible so your intended beneficiaries will receive your assets upon your death. Here is a checklist of items: