Protecting Your Estate After A Divorce
The purpose of an estate plan is to protect your assets and make sure that the right people inherit the right property. However, your estate plan might not achieve these objectives following a divorce.
As your life evolves, so must your estate plan. After your divorce, Scott + Hespen Law, PLLC, can help you eliminate the “what if” questions about how much access your former spouse could have to your property and your care. Our estate planning lawyers will give you direct support throughout the planning process.
Update Your Current Plan
A divorce does not automatically remove your former spouse from all aspects of your estate plan. For example, you may need to grant different powers of attorney, update health care directives and name new beneficiaries for life insurance policies, your will and any trusts you have.
At Scott + Hespen Law, PLLC, you can work with our experienced attorneys to review your current plan. We will vigilantly identify the different avenues through which your former spouse could attempt to access your money and property. We can then help you adjust your plan to reflect your personal and financial priorities.
Consider Additional Estate Planning Tools
If you have not created an estate plan, it is especially advisable to do so after getting a divorce. Without a valid will, for example, a probate court will use your estate to pay any outstanding debts and then distribute assets according to Minnesota’s intestate laws. Under intestate laws, there is a chance that the judge may award a portion of your estate to your former spouse.
Therefore, we can recommend estate planning methods that will help you shield your property to make sure the loved ones of your choice receive their full inheritance. If you share children with your former spouse, we can assist you with trusts and other tools to limit the influence that your former spouse could have over the assets.
Planning Early Offers Better Protection
Whether you have been divorced for a day or a decade, keeping your estate plan up to date is necessary. You deserve to have peace of mind that your property will benefit your loved ones one day, and we make your goals our imperative.
Email our office in St. Paul or call 651-968-1457 to make a consultation today.