Divorce is a difficult process that can affect various aspects of a person's life, including their estate plan. If you have recently been through a divorce, it is important to review and update your estate plan to ensure that your wishes are accurately reflected.

One of the main ways that divorce affects an estate plan is through beneficiary designations. When you get divorced, you will likely want to change the beneficiaries on your retirement accounts, life insurance policies, and other financial assets. If you fail to do so, your ex-spouse may still receive the assets upon your death, even if you have remarried.

It is important to review and update your will to reflect your current wishes and ensure that your assets are distributed according to your wishes. If you do not update your will, your ex-spouse may still inherit some of your assets, which may not be your intent. You may want to consider revising your will to remove your ex-spouse as a beneficiary or include additional provisions depending on the terms of your separation agreement.

Additionally, divorce can impact the appointment of fiduciaries in your estate plan. A fiduciary is a person who is appointed to manage your assets and make decisions on your behalf if you become incapacitated or pass away. If you named your ex-spouse as your executor, trustee, or power of attorney, you may want to consider changing those appointments to someone else.

In conclusion, divorce can have a significant impact on your estate plan. It is important to review and update your estate plan after a divorce to ensure that your assets are distributed according to your current wishes and that the right people are appointed to manage your affairs.

If you need help with updating your estate plan, contact us today to schedule a consultation and start planning for your future. Our team of experienced attorneys is here to help you create an estate plan that meets your unique needs.