Estate Planning After Divorce: What Should You Review?

Your estate plan should reflect the life you’re living today—not the circumstances you had before your divorce.

After a divorce, it’s important to review more than just your will. Beneficiary designations on life insurance policies, retirement accounts, investment accounts, and other financial assets should also be evaluated. Depending on the circumstances, these designations may not automatically change simply because a marriage has ended.

Divorced parents should also think about how assets intended for their children will be managed. A trust may provide a way to establish guidelines for how and when assets are distributed, particularly when children are minors.

Remarriage and blended families can create additional estate-planning considerations. A new spouse, additional children, new property, or other financial changes may require revisions to an existing plan.

A comprehensive estate-plan review can help ensure that your will, trusts, beneficiary designations, powers of attorney, health care documents, and guardianship wishes all work together.

Read the full article to learn more about updating your estate plan after divorce.

If your family or financial circumstances have changed, our estate planning attorneys can help you determine whether your current plan still meets your needs.