(405) 232-2444 | info@bedlamlaw.com GoogleIcon

Bedlam Law

Bedlam Law
  • Home
  • About
    • John A. Alberts
    • David P. Henry
    • Scott Kedy
    • Paulette Rice
    • Lisa Hester
    • Stephanie Davis
    • Christie Wright
    • Garrett Coats
  • Family Law
    • Divorce
    • Child Custody
    • Alimony
  • Estate Planning
    • Wills & Trusts
    • Probate
    • Guardianships
  • Criminal Law
    • DUI
    • Other Charges
    • Expungements
  • Mediation
  • Testimonials
    • Bedlam Blitz
  • Video
  • Resource Center
  • Contact

Home » Bedlam Blitz » 6 Things You Should Know Regarding Your Estate Plan and Divorce

6 Things You Should Know Regarding Your Estate Plan and Divorce

January 6, 2017
Bedlam Law

When two people are married, they make many decisions with the belief that they will be together for the rest of their lives. When things do not work out, it is important to go through those decisions and make modifications. This is especially true when it comes to estate planning.

If you do not properly update your estate planning documents after a divorce, it can result in your ex receiving assets or controls that they should not have. If you are going through a divorce (or have recently gone through a divorce), make sure to consider the following six important tips:

Close Joint Documents

If you have a joint living trust or other document that both of you are listed on, it is often best to close (or dissolve) them completely. This will put you in a position where each of you can create individual documents based on your own wishes. Depending on the type of estate planning tools you have in place, it could have some tax or other legal implications. Make sure to speak with an attorney about the best way to separate these items during the divorce.

Updating Health Care Surrogates

Those who have a health care surrogate named (or a health care power of attorney) will often name their spouse as the primary option. In the event of a divorce, you will want to have that changed to someone else.

Update Powers of Attorney

Similar to the health care power of attorney, legal power of attorney is typically left to a spouse in estate planning documents. Choosing someone else to have powers of attorney should you become unable to make your own legal decisions is an important step after a divorce.

Make Changes to Beneficiaries

All of your assets will currently be directed toward your spouse if you should die. After the divorce, you may to want to distribute your assets differently. Make these changes immediately, or your ex could enjoy your 401(k) in the event of an untimely death.

Address Custody of Minor Children

If you have minor children, make sure you update your estate planning documents to reflect your wishes. While your ex-spouse will most likely be given custody, you can still make your desires known. You can also name who you would like to have custody of your children if your spouse is not an option.

Review Charitable Giving

If you have any type of charitable giving outlined in your estate plan, now is an ideal time to review it and make any desired changes. Your financial situation is also going to be significantly different after the divorce, so you may not have the extra resources in your estate to be able to give as you initially planned.

Work with an Estate Planning Attorney

Whenever making any type of changes to your estate plan, it is important to work with an experienced estate planning attorney. Bedlam Law can help you create an estate plan, or modify an existing one. Please contact us to discuss your situation and see what we can do to assure your wishes are followed.

Share this on...Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
Linkedin
Share on google
Google
Share on email
Email

Filed Under: Uncategorized

Search

Contact Information

Bedlam Law
1617 Professional Circle
Yukon, Oklahoma 73099
Phone: (405) 232-2444
Email: info@bedlamlaw.com

Special Report

Special Report

Avoid the Bedlam: 10 Key Steps You Must Take to Prepare for Divorce


Click below to download now!

Download

Newsletter

Sign up for our free monthly newsletter to get breaking news, resources, and practical Family and Estate Planning tips delivered straight to your inbox!
  • This field is for validation purposes and should be left unchanged.

Categories

  • Uncategorized

Recent Posts

  • HOW IS A VISITATION SCHEDULE DETERMINED IN A DIVORCE OR PATERNITY CASE?
  • 10 Tactics To Use For A Resolution Minded Divorce
  • 12 Tips For Staying In A Relationship With A Mentally Ill Partner

Social Media

Contact Us

  • This field is for validation purposes and should be left unchanged.

1617 Professional Circle
Yukon, Oklahoma 73099
(405) 232-2444
info@bedlamlaw.com

  • Home
  • About
  • Family Law
  • Estate Planning
  • Testimonials
  • Bedlam Blitz
  • Contact
  • Free Resource
  • Newsletter
  • Privacy Policy
  • Disclaimer
Disclaimer: The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for advice regarding your individual situation. We invite you to contact us and welcome your calls, letters and electronic mail. Click here to see the full disclamer
Areas We Serve: Oklahoma City | Chickasha | Norman | Shawnee | Guthrie
Copyright 2023 Bedlam Law