If you are currently married and are facing a divorce, there are multiple legal changes that are probably taking place all at the same time. Assets are divided, child custody and support are being discussed, and one or both of you is moving out of the family home, redistributing bills and payments. If you have an existing estate plan, will, or power of attorney, you will need to examine those in the divorce, as well. Dealing with a divorce, possible child custody conflicts, and revising your estate plan is an overwhelming and sometimes confusing undertaking. Let our estate planning attorney at Leger Law Group, LLP help! We can make sure that your bases are covered, while making sure your ex-spouse is no longer included in power of attorney instructions or inheritance designations.
Making Changes to Estate Planning Documents
You will need to make changes to several of your estate planning documents during and after your divorce. You will need to make sure that these changes are legally binding, and that nothing is missed in the process of review and revision.
Speak with our attorney about the following 5 items:
- Health care directive and proxy: If your spouse is named as the decision-maker on your healthcare directive or proxy, it will be in your best interest to change that to someone neutral in the case of an accident or illness that leaves you unable to make decisions on your own.
- Power of Attorney: A Power of Attorney gives a designated individual access to your accounts, assets, and other decision-making responsibilities on your behalf. If this person is your ex, and especially if your divorce is volatile, make sure to change that before it’s too late.
- Will and Trust: Update your will, trust, and any other property or asset documents to exclude your spouse where necessary but keep in mind any changes that may conflict with your prenuptial agreement.
- Name an executor: Even if your ex-spouse is no longer on your will, you may also want to name an executor for your estate so that there is someone overseeing asset division and will executions. This person can make sure that your ex-spouse does not interfere with the decisions unfolding after your passing as well as protect your children from being manipulated or taken advantage of.
- Child guardianship: Although you are not revising your documents because you are planning for death, it is still important to name an outside guardian for your child, one who is not necessarily connected to your ex. If you believe your ex should not care for your children, explain why in this document.
Discuss Your Estate Plan with a Professional
Because of the nature of estate planning documents, you may need to do one revision during your divorce and an additional revision once your divorce is final. To make sure that everything is done correctly, contact our team and schedule a free consultation for most matters with our estate planning attorney at Leger Law Group, LLP. We can review your current documents, explain your options, and help you make sure that your assets are protected.
Request a free consultation for most matters at (225) 522-4996 today!