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Manage Client Divorce

Contents

Introduction

To make your audits faster and easier, the Compliance - Clients Terminated This Year report view on the Accounts page lists all the clients that were terminated for your firm in the current year.

If Both Former Spouses Will Remain Clients

If both former spouses will remain clients, you’ll need to do the following: 

• Create two new Accounts/Households.

• Reassign the underlying contacts.

Additionally, be sure to take these steps:

1. On the side menu, select Accounts under Clients.

   

2. Click the name of the original account or household.

3. Click Administration.

   

4. In Termination Reason, enter Divorce.

   

5. In the original account, use the Activities and the Alert fields to document any communication regarding the divorce.

6. Deactivate the original Account/Household.

   

If Only One Spouse Will Remain a Client

If only one spouse will remain a client, deactivate the leaving spouse contact and document the divorce using Activities and the Alert fields on the account.

Be sure to update the following fields on the Account record:

• Account Name

• Address Name Line

• Address and Home Phone (if applicable)

• Salutation

Be sure to update the Marital Status and Anniversary on the remaining contact record.