When going through a divorce in Maryland, you may hesitate to share much about your situation with other people. Keeping the details private can help you reduce judgment and drama, as well as help your reputation in court.
However, you should consider sharing general details with the HR department at your work. The reasons for doing this can help you plan for your future and continue to excel in your career despite the turbulence in your personal life.
The purpose of formal updates
Your divorce and your career may seem completely unrelated, but they intersect more than you would think. According to Fast Company, depending on the benefits you have at work, your divorce will impact your benefits including the following:
- Health insurance premiums and coverage
- Retirement and pension accounts
- Life insurance policies
- Disability insurance
In each of the aforementioned accounts, you may have your spouse listed as a beneficiary. Immediately changing that designation can help you plan for the future and avoid disappointing losses. Promptly notifying HR about your situation will get the ball rolling on making formal updates to prevent legal trouble and confusion.
The plan for your future
One of the most important steps you can take early on in your divorce is to create a financial plan for your future. Create a focused and realistic plan to earn money and rebuild your retirement savings. The sooner you make changes to your benefits at work, the sooner you can have a clear picture of what financial steps you need to take to maintain a comfortable standard of living without the help of your spouse.