Divorce and Estate Planning
Our office always recommends that our clients review their estate plan whenever a major life event occurs. People often think of their estates when they marry or have a child. However, a divorce is also a major life event, and one that requires a close check of your estate plan, starting with your will.
Remember, though, that your will is not the only part of your estate plan that should be reviewed. Insurance beneficiaries, for example, need to be adjusted. Also, any retirement, investment, or other accounts that will be paid upon your death to a named beneficiary need to be reviewed and, if needed, adjusted. You also may need to reconsider who you have named to serve as your executor, trustee, or guardian of your children. Do you really want a member of your ex-spouse's family serving as your executor?