Page 39 - Book3E

was sold by the couple as the capital gains exclusion is twice as high for a couple.
• Change the beneficiaries on your will, any trusts, pension, life insurance, etc. If you don’t, your divorced spouse could get all your benefits.
• Don’t lose your health coverage. Retain your health coverage through COBRA or acquire a policy of your own. Please consult your FFEF counselors if you need help in this area. They can point you in the right direction for finding the information you need.
• There is a great deal of information with regard to children and changes in status on the IRS website at www.irs.gov. Be sure to review it so you can make the necessary changes to protect yourself when it comes to taxes.
• Keep moving forward. If you receive a lump-sum settlement, don’t splurge to make yourself feel better. Consult a financial planner to help you make wise financial decisions for your future—it can still be a rosy one!
Let’s Review__________________________________
Are You an Optimist or a Pessimist?
If you’re looking for more happiness, try changing your attitude. A better outlook will have a greater impact on your level of happiness level than buying a new car. Answer the following questions as honestly as you can.
1. Think of a time when something bad happened to you. How did you react?
a. Bad things happen to everyone sometimes. b. Nothing ever goes right for me.
c. I felt it made me a better person.
Emotions and Money 31