Divorce can be a difficult and emotional process, but it's important to remember that it also has legal consequences. After a divorce, updating your estate plan is one of the most important things to consider.
Things to Consider Regarding Your Estate Plan After Divorce
Your Ex-Spouse May Still Be Listed as Your Beneficiary
If you don't update your estate plan after a divorce, your ex-spouse may still be listed as a beneficiary on your life insurance policy, retirement account, or other important documents. This means that if something were to happen to you, your ex-spouse would still receive these assets.
Your Children's Guardianship May Need to Be Changed
If you have children, you likely named a guardian for them in your estate plan. However, if that guardian was your ex-spouse, you may want to consider changing it. It's important to ensure that your children will be taken care of by someone you trust in the event of your death.
Your Assets May Need to Be Redistributed
After a divorce, you may want to change the way your assets are distributed. For example, you may want to leave more to your children or other family members, rather than your ex-spouse.
Your Healthcare May Need to Be Changed
If your ex-spouse was listed as your healthcare proxy, you may want to consider changing it. It's important to ensure that the person making healthcare decisions for you is someone you trust and who has your best interests in mind.
Your Power of Attorney May Need to Be Changed
If your ex-spouse was listed as your power of attorney, you may want to consider changing it. It's important to ensure that the person making financial decisions for you is someone you trust and who has your best interests in mind.
Updating your estate plan after a divorce is important in protecting your assets and ensuring that your wishes are carried out. At Law Offices of Jonathan Merel, P.C., we understand how difficult this process can be. That's why we're here to help.
Our experienced attorneys can guide you through updating your estate plan and ensure that your wishes are carried out. Contact us today to schedule a consultation. (312) 487-2795