Our office is open and accepting new clients. In the interest of your safety and ours regarding COVID-19, we have implemented new policies. We have expanded our options for remote consultations including full phone or video conference consultations. We also conduct business via regular mail and email as much as we can. When in-office meetings are necessary and scheduled, we are putting forth our best efforts to protect you and our office staff. During any in-office visit, we ask you to sanitize your hands, wear a mask or face covering, and contact us to reschedule your meeting if you are not feeling well. Thank you for your continued support.

Don’t neglect updating your will after getting divorced

On Behalf of | Oct 25, 2019 | Estate Planning

By creating a will, you have taken an important step in creating a strong, executable estate plan. This document is usually used to determine how the testator’s (the person who created the will) assets will be divided up after their passing. These assets could include:

  • Property
  • Retirement fund(s)
  • Bank balances
  • Family heirlooms or prized possessions

Now, a will can address much more than that, but these items are usually at the top of the list of people’s priorities.

Wills during marriage

Typically, marriage is the stage of life when people have children, invest in property, and pool their financial assets with their spouse. You may have created a will during your marriage to safeguard these assets and to make your wishes known just in case, which was a smart move. It’s never too early or too late to create an estate plan.

Wills after divorce

You did the right thing by planning for the future, but your plan will likely have to change considerably after getting a divorce. Here are a few things that getting divorced changes about your will:

  • Your assets have probably shifted since dividing your property with your spouse
  • You may have a court-ordered custody agreement, which could override any designations you made regarding custody of minor children in your will.
  • Your financial situation could have changed along the way, which needs to be updated in your will

After going through the intense legal process that is divorce, you are probably dreading having to update your will. However, a knowledgeable estate planning attorney can help you make these changes relatively painlessly.

Keep in mind that besides getting divorced, there are also several more instances in which you should change your will, as well.

Don’t hesitate to reach out if you need help, as it’s important to have an up-to-date, executable will just in case the worst happens.