Be Sure to Update Your Estate Plan When You Are Going Through a Divorce
Man and woman sitting with documents and wedding rings on table

Date

Have you separated from your spouse and are you preparing for divorce? Although it is probably not on the forefront of your mind, it may be important to remember to update your estate plan, or put an estate plan in place, when you are going through a divorce.

Share This Post

Even if you may have already filed for divorce, you are still married to your spouse in the eyes of the law until the court enters a final divorce decree. This means that if you unexpectedly pass away while the divorce is pending, your spouse may still technically be your spouse and can inherit your estate as your spouse. It can also mean that if you unexpectedly become incapacitated and unable to manage your own affairs or express your healthcare wishes to your doctor, your spouse may be the one with the authority to do that.

To avoid allowing your spouse to continue to have those rights after separation, discuss your goals and objectives with an experienced estate planning attorney. Your attorney may suggest that you execute a power of attorney naming someone other than your spouse as your agent to manage your financial and business affairs if you are unable to do so. Similarly, you may want to designate an agent other than your spouse in a health care surrogate to help ensure that your healthcare wishes are carried out in the event you cannot directly communicate with your doctor. You may also update or create a will identifying beneficiaries to inherit your estate if you die before your divorce is finalized. Your attorney can help you put these and other estate planning mechanisms in place to ensure that you and your assets are protected in case tragedy strikes while your divorce is pending.

For assistance in establishing an estate plan or updating an existing estate plan that accurately and effectively reflects your most current life circumstances, please reach out to our office to schedule a meeting.

Subscribe To Our Newsletter

Stay updated with our Firm

More
articles