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How to Update Your Estate Plan After Divorce

5/19/2019

4 Comments

 
Picture

Estate Planning After Divorce

Updating estate plans during and after a divorce is often the last thing someone feels like dealing with. However, it’s a vital step in the process. It will provide peace of mind and closure.
If you delay or avoid updating your plan, your assets could end up being distributed to your ex-spouse after you pass away. These steps will ensure your estate plan is updated and reflects your wishes.

Update Your Will
Laws vary by state, but in many cases, the information in the will still stands as valid after divorce, so it’s important to create a new will. After all, would you want your ex-spouse to inherit something from your estate?
Most planning processes start with revoking your current will. Assuming your ex-spouse was listed as executor, update the will with new details:
  • Leave property to a different person.
  • Name a new executor.
  • Name a new guardian to take care of children if applicable.

Change Financial Power of Attorney
If you named your ex as durable power of attorney, this means you gave them access to all of your accounts and assets — including present-day assets in your name.
If you’re not sure how you named them, check with your estate planning lawyer and they’ll help you figure it out. Regardless, you’ll still want to change power of attorney by:
  • Revoking ex’s previous role
  • Naming new power of attorney
  • Alerting your ex-spouse of these changes through your lawyer

Update Healthcare Proxy
In most marriages, the spouse can make healthcare decisions in case of an accident, emergency or serious illness as power of attorney or healthcare proxy. For example, if you get in a car accident and sustain serious injuries and are sent to the hospital, unable to make decisions or communicate, the spouse would have authority to make decisions on your behalf.
During or immediately after a divorce, it’s imperative that you name a new proxy — someone who you trust and respect.

Name New Guardian for Minors
If you’re a parent of a child under age 18, you’ll likely want to name a new guardian in the event that you or your ex-spouse pass away or are unfit to raise the child.
Note: If you don’t want your ex-spouse to raise your children if you pass away simply for personal reasons, this can’t be prevented. Then it’s a matter of custody, which is a different topic. However, naming a guardian can provide peace of mind in the event neither you or your spouse can raise the child.

Are you in the midst of a divorce or dealing with the aftermath? The SLN Law team is here to help you update your estate plan. Contact us today!

4 Comments
Orange County Divorce Lawyer link
7/16/2022 03:49:11 pm

For example if you get in a car accident and sustain serious injuries and are sent to the hospital, unable to make decisions or communicate, the spouse would have authority to make decisions on your behalf. Thank you for the beautiful post!

Reply
Orange County Family Law Lawyer link
7/16/2022 04:26:55 pm

If you’re not sure how you named them, check with your estate planning lawyer and they’ll help you figure it out. I’m so thankful for your helpful post!

Reply
Mia Evans link
10/15/2022 02:02:46 am

Thanks for pointing out that every state would have various laws which is why it is important to change or check your will after you get a divorce. Personally, I might want to hire an estate administration attorney regarding my properties to create a will or trust for the security of my family. My husband and I are still standing strong, and I just want to make sure that my children will be getting the rights of our properties and assets if anything happens to us.

Reply
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1/18/2023 06:44:47 am


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  • Home
  • Employment Law
    • Guide To Employment Law Content
    • Employment Contracts in Massachusetts
    • Discrimination in the Workplace
    • Employment Termination >
      • Massachusetts Paid Family Leave
      • Severance Pay
      • Unemployment in Massachusetts
    • Sexual Harassment at Work >
      • Sexual Harassment in a Small Business
      • Sexual Harassment and Non Disclosure Agreements
      • Sexual Harassment and Remote Work
    • Wage and Hour Laws >
      • Overtime Law >
        • Overtime Exemptions
        • Employee Travel Time
        • Federal or State Overtime Law
      • Massachusetts Wage Act >
        • Payment of Commissions
        • Wage Deductions
        • Late Payment of Wages
        • Paid Time Off
    • Independent Contractor Law
    • Non Compete Agreements >
      • Are non competes enforceable
      • Massachusetts Non Compete Act
      • Pre 2018 Massachusetts Non Competes
  • Estate Planning
    • Guide To Estate Planning Content
    • Legacy Protection
    • Why You Need an Estate Plan
    • Why You Don't Have an Estate Plan
    • Estate Planning Documents >
      • Children with Special Needs
    • Planning for Assisted Living
    • Probate Process
  • Business Law
    • Guide To Business Law Content
    • Small Business Law
    • Business Contract Basics
    • Civil Suit Defense
    • Legal Issues for Start Ups
    • Trademark Basics
    • How to Incorporate
    • Sale of Business
  • About
    • Reviews
    • Slnlaw Offices
    • slnlaw core values
    • Publications and Interviews
    • New Client Intake and Consultation
    • Contact
  • Attorneys
    • Emily Smith-Lee >
      • 2018 Lawyer of the Year
    • Jenna Ordway
    • Rebecca Rogers
    • Sharleen Tinnin
    • Elijah Bresley
  • Legal FAQs
    • Estate Planning FAQs
    • Probate FAQs
    • Small Business FAQs
    • Wage Act FAQs
    • Commission Pay FAQs
    • Overtime FAQs
    • Independent Contractor FAQs
    • Non Compete FAQs
    • Employment Discrimination FAQs
    • Employment Termination FAQs
    • Massachusettts Unemployment FAQs
    • Severance Package FAQs
    • Medical Leave FAQs
    • Sexual Harassment FAQs
    • Employer FAQs
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