Divorce is emotionally draining, consuming your thoughts and energy for months or even years. Updating your estate plan might be the last thing on your mind. However, neglecting it poses a risk - your ex-spouse could inherit assets meant for someone else. Taking...
Estate Planning
Should you create a trust for your children after your divorce?
Every parent prioritizes ensuring a secure financial future for their children. As a couple, you and your spouse likely created a joint estate plan that named each other as beneficiaries on your life insurance policies, with the intent that the monies would be used to...
Did you commingle your inheritance?
When you’re getting divorced, you have to divide the assets that you own together. These are known as marital assets. The alternative is that there are some separate assets, which are things that you or your spouse may own individually. These do not have to be divided...
3 things you need to know about estate planning after divorce
Are you currently going through a divorce or planning to file for a divorce soon? If so, you will likely need to update your estate plan to ensure it reflects current affairs. Revisiting pertinent areas of your estate plan can save you from leaving undesirable...
5 tips for estate planning for blended families
Estate planning for blended families can be more complex than planning for traditional families. To include stepchildren in your estate plan, you should explicitly mention them. Clearly state your intentions for each of your stepchildren in your estate planning...
Don’t forget life insurance when updating an estate post-divorce
Many practical plans you have already made will need to change when you decide to divorce. Where you intend to live after retiring, when you intend to retire and who will take care of you in a medical emergency may all change. Updating your estate plan is a necessary...
Modifying your estate plan after divorce
Divorce is a complicated process, and it can be tough to think about the future after your split. One thing that often gets overlooked during divorce proceedings is estate planning. What will happen to your assets after you die? Who will inherit them? If you have...
A medical power of attorney can protect you after a divorce
You may have already made a change to your will as soon as you filed for divorce. Removing your ex as a beneficiary is a common-sense measure when you divorce. After all, spouses usually leave mostly everything to each other if one of them dies. What you may not have...
A trust can protect your kids’ inheritance post-divorce
Many of your legal concerns will shift after a divorce. The estate plan you previously created may no longer serve your needs nor fulfill your wishes. Thinking carefully about how you want to rewrite your will and restructure your estate plan is very important -...
Why do you need to update your estate plan after a divorce?
During a divorce, you and your ex will have to figure out how to split your property and agree to arrangements for shared custody if you have kids together. Whether you go through mediation, attempt a collaborative divorce or litigate your proceeding, you will likely...