Estate Planning Mistake: No Estate Plan While Divorce is Pending

by | Jul 18, 2022

divorce estate planning heart breakIf you get a divorce, in most states your ex-spouse is automatically disinherited from your Will. Setting up an estate plan while divorce is pending could help protect your assets and your future.

What if You Die before the Divorce is Final?!

In that case, your soon-to-be-ex-spouse will still inherit under your Will or Trust. Therefore, it is very important to change or amend your estate plan AS SOON AS DIVORCE IS FILED.

Many people will usually wait until the divorce is final, which, by then, is often far less important. Also, keep in mind that a divorce decree does not automatically change beneficiary designations, such as on life insurance and qualified retirement plans. You must file a change of beneficiary designation form to make those changes.

Solution: Create an Estate Plan While Divorce is Pending

If you have filed for divorce, contact your estate planning attorney to update all of your estate planning documents per your new life circumstances. You may not want your soon-to-be-ex-spouse to be running the show if you become incapacitated or pass away before your divorce is finalized.

Schedule your complimentary initial consultation online, or contact our office at 719-259-4971.