Yes! Even if you don’t have a written estate plan, you have an estate plan per the laws of your state. If you get divorced, the nature of your estate plan will change.
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If you have a written estate plan and get divorced, once your divorce is final, you need to update your plan.
It is likely your divorce may change things such as your:
- Legal name,
- Trustee,
- Beneficiaries,
- Power of attorney, and more.
Other than your estate plan, it is important to reassess:
- Jointly owned properties,
- Beneficiaries on retirement accounts and life insurance,
- Vehicle titles, and more.
If you have minor children, it is incredibly important to consider your estate plan because you will need to give thought to their guardianship and providing for their care if something were to happen to you.
While many situations that arise in life can impact your estate plan, a divorce will certainly require review and updates to your existing plan.
We recommend meeting with an estate planning attorney as soon as the divorce is finalized.
If you need help with your estate plan or following the death of a loved one, we can help.
Contact us today to help you get the right documents in place or to update your current estate plan. We will plan so that you don’t have to worry about your future.
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