I was told that after my divorce I should create and/or update my estate plan. I don’t understand why these two things would correlate. Can you help me out?
Eager to Update
That is a great question! Yes, you should definitely update your estate plan after a divorce if you already have one. We actually recommend this to all of our divorce clients. You would want to do this so that you protect your assets. Now that you are no longer married, you likely don’t want your possessions to be left to your ex-spouse. Drafting an estate plan can also help you realize what beneficiary information you’ll need to change as well. This will ensure that your assets are left to the right people, should anything ever happen to you. Of course, this assumes that you had drafted your estate plan to include your spouse, since that is what you would want to change. Alternatively, if you never had an estate plan, it may be even more important now that you are not married, as you may own most or all of your assets on your own. Without a proper estate plan in place, your estate may need to go through probate and your loved ones may not receive everything that you had intended.
The same could be said about your Living Will! You may want to consider updating that as well, since your ex-spouse may not be who you’d like to make decisions about your revival and/or life support options should there ever be an emergency.
Feel free to contact us for a confidential consultation regarding your estate plan at 203.745.3151 or email@example.com.
Very Truly Yours,
Wolf & Shore Law Group