Your estate planning documents such as wills, trusts and powers of attorney require periodic review and updating. Changes in your life circumstances such as a divorce necessitate modification of your estate planning documents. Regardless of whether or not you created a will or other planning documents during your marrieage, you should have these documents prepared after a divorce. If you do not, unwanted results may occur. For example, if you have young children and pass away after a divorce, your ex-spouse is likely to gain control of your children’s inheritance as guardian if you to not make necessary estate planning provisions. You should also make sure to modify beneficiary designations on you life insurance, IRA’s, 401k’s, annuities and pension plans. This will avoid any problems resulting from your ex-spouse still being listed as beneficiary after divorce. Check out this article to review some of the other estate planning considerations after divorce.
Please contact Douglas L. Kaune, Esq. to discuss your particular estate planning questions and to determine the appropriate planning for you and your family.