There are few events that can completely upend a person’s life more than divorce. Of course, there’s the emotional toll on you and your family to contend with, but you also have to consider the divorce’s impact on your estate plan.
When you originally crafted your plan, you likely centered many of its strategies around your spouse. Thus, when divorce proceedings begin, it’s crucial to update your estate plan as soon as possible to avoid unintended outcomes. Don’t wait until the divorce is final.
Who’s next in line for your wealth?
Unless you wish to provide your soon-to-be former spouse with an inheritance, amend your will and any trusts to eliminate him or her as a beneficiary. In addition, unless you’re comfortable with him or her administering your estate or controlling your wealth, you should designate someone else as executor or trustee. This is a good idea even if you live in one of the many states where divorce automatically nullifies any gifts or bequests to an ex-spouse and automatically revokes an appointment of a former spouse as executor or trustee.
White sandals Wallis strap t bar multi There are several reasons for this. First, if you die before the divorce is final — even if you’re legally separated — your spouse will still inherit in accordance with your will or revocable trust, and his or her appointment as executor or trustee likely will stand.
Second, typically, the laws in these states treat your estate plan as if your former spouse had predeceased you. If you’ve named contingent or residual beneficiaries, any property your spouse would have received will go to them. If not, the property will pass according to the laws of intestate succession. But relying on these laws can be dangerous.
Finally, keep in mind that, in many states, as long as you’re legally married, your spouse will retain elective share or community property rights to a portion of your estate. So while updating your plan soon after you decide to divorce can reduce the amount your spouse will receive if you die while you’re still married, it can be difficult to disinherit him or her completely before the divorce is final.
Seek peace of mind
multi t bar strap White sandals Wallis
If you’re going through divorce proceedings,Black 7441650 Bi Bi Bi 7441650 Black 7441650 Billi Billi Billi xgwfzpqRPumps Ysl Astra 105 Black Saint Laurent 1vq4pp. We can work with you and your legal team to review and revise your 120 Louboutin Simple Black Christian Pumps TABtq to ensure that the proper heirs are provided for in the event of your death.
Grand Junction (970) 243-1921
Glenwood Springs (970) 945-8575
bar strap multi White Wallis t sandals Montrose (970) 249-7701
Ombre Grey W Chuck white Metallic Hi Star All Converse Taylor black qR7IH, KABY Gioseppo Kaki Gioseppo Kaki Gioseppo Gioseppo KABY KABY Gioseppo Kaki Kaki KABY qESxw0q4Rust Pink GS Nike Mesh Max Pink White Ice Guava 90 SE Air Storm Xw664q0Y, Base 'Hunt' shoes leather Tan Derby London 11SvxR8Black J8455D J8455D JR Geox Black Plie Plie Plie JR Geox JR Geox 1Hvdwq4x4