Estate Planning & Divorce: Why You Should Update a Will
Following a stressful divorce, the very last thing most people want to deal with is making changes to their Will or estate plan. In fact, many people forget that they need to make changes at all.
It’s important to understand that even though your divorce has been finalized and you’re no longer married to your partner, they could still be recognized as a beneficiary if your Will specifies them as such
If you no longer wish for your former spouse to manage your estate or receive any benefits from you, then you should immediately update your Will and estate plan. Ideally, this would be done prior to or during the divorce process, but can be done immediately following You don’t want to wait too long to make this important change, in order to protect your new beneficiaries (such as children or parents).
If you’re working with a family law firm on your divorce, they may also be knowledgeable in estate planning, or can certainly provide you with a qualified referral. No matter what, updating your Will or estate plan is an important part of the divorce process, and should not be forgotten.