Making Changes After The End of a Marriage
Divorce can be a very difficult time for everyone involved. Along with the emotional stress, many legal and financial decisions must be made. One of the most important things to update after a divorce is your estate plan. Here we will discuss why it is important to update your estate plan after a divorce and what changes you may wish to make.
Why Update Your Estate Plan After Divorce
Divorce can be a difficult and emotionally charged time. Along with the many changes that you are experiencing, you will also need to update your estate plan. This is because your estate plan is based on your current family situation and assets. After a divorce, your family situation and assets will change, so it is important to update your estate plan accordingly.
There are many reasons why you may need to update your estate plan after a divorce. For example, you may want to remove your ex-spouse from your beneficiary designation forms (such as for life insurance or retirement accounts). You may also want to update your power of attorney documents to appoint someone new. Additionally, you may need to make changes to your will or trust in order to reflect your new family situation.
Making changes to your estate plan after a divorce can be difficult, but it is important to do so in order to ensure that your assets are distributed according to your wishes. If you have any questions about how to update your estate plan, you should speak with an experienced estate planning attorney.
Reach Out to an Attorney
If you have questions about divorce, whether about the process or life after, be sure to reach out to the team at Verner Brumley Mueller Parker. Our team is prepared to help guide you through all facets of divorce and give you the advice you need to succeed when everything is finalized.
Learn more about how we can help or schedule a consultation by calling (214) 225-6766 or by visiting us online.