Avoiding Estate Planning Pitfalls: Neglecting Plans During Divorce Proceedings

by | Mar 19, 2024

When going through any divorce proceedings, most states automatically disinherit your ex-spouse from your Will. However, establishing an estate plan while the divorce is pending is crucial for safeguarding your assets and future.

What if You Pass Away Before Finalizing the Divorce?!

In such a scenario, your soon-to-be-ex-spouse could still inherit under your Will or Trust. Hence, it is of utmost importance to modify or amend your estate plan IMMEDIATELY UPON FILING FOR DIVORCE.

Many individuals tend to postpone this until the divorce is officially concluded, a point where its significance may diminish. However, a divorce decree doesn’t automatically alter beneficiary designations, such as those on life insurance and qualified retirement plans. To effect these changes, you must submit a change of beneficiary designation form.

Solution: Craft an Estate Plan During Divorce Proceedings

If you’ve initiated divorce proceedings, reach out to your estate planning attorney to revise all your estate planning documents in line with your new life circumstances. Ensuring that your soon-to-be-ex-spouse doesn’t take control in case of your incapacity or passing before the divorce is finalized is crucial.

Book your complimentary initial consultation online, or get in touch with our office at 816-399-2757. Let us help you work through the complicated world of Estate Planning!