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Different ways divorce may affect your estate plan

On Behalf of | Jun 8, 2018 | Estate Planning |

There are a wide variety of issues that couples often have to work through when they end their marriage and in the wake of their divorce. From financial matters such as property distribution, child support payments and alimony to custody disputes and parental relocation, divorce can be a tricky time for many people. Moreover, there are other issues that may need to be closely examined when a marriage is terminated. For example, someone who has an estate plan may need to make revisions once their marriage has been brought to an end.

A divorce may affect an estate plan in different ways. For starters, if someone named their former spouse as the executor, they may want to remove them and find a new person to fill this role. Moreover, a divorce may affect how someone decides to divide their property among beneficiaries. For example, someone may remove their spouse or their spouse’s children from the estate plan. Moreover, someone may enter into a new marriage with someone else who has children and they may want to add these children as beneficiaries.

These are just some of the considerations that may arise with regard to divorce and a person’s estate plan. Ending your marriage may seem daunting and you might feel drained of energy, but it is crucial to take care of these matters promptly and think about all of the ways in which your divorce will affect you.

Head to the estate planning webpage on our site if you are interested in reading about other issues related to revising your estate plan.