As you work to finalize your divorce, don’t forget about your estate plan. A divorce is often all-consuming, both financially and emotionally, but it is important to turn your attention to your estate plan as you emerge from a separation or divorce.
If you do not have an estate plan, you should consult with an attorney and put one in place, including, at a minimum, a Last Will and Testament, as soon as possible following your separation or divorce. If you have estate planning documents in place, a post-divorce or separation review should occur to ensure appropriate beneficiary designations and fiduciary appointments under such documents. Consideration should also be given to the ages of your children, children from second marriages and the need for trusts based on changed circumstances. By taking these steps to address changes based on your divorce, you can prevent undesired results and obtain peace of mind knowing your estate planning documents are consistent with your new life.
The attorneys in our Estates and Tax Practice Group regularly assist individuals in addressing these and other important estate planning issues. If you are interested in learning more about how to start your estate plan discussion and/or revisit your existing estate planning documents, please contact Catherine Mihalick of our Estates and Tax Practice Group (firstname.lastname@example.org). We are here to help!