How Does Getting a Divorce Affect Your Estate Plan?
Any time you have a major change in your life circumstances, you should review your estate plan, and a divorce certainly counts. Here are a few things to consider regarding your estate plan if you recently or currently are going through a divorce.
- Don’t forget the kids if you remarry – If you get remarried there is a risk of all of your estate going to the new mate and children, so don’t forget to include any kids from the previous marriage when you plan your estate.
- Changing beneficiaries – Not everything goes through probate, so if you have retirement accounts, a life insurance policy, or trusts with a named beneficiary, you want to be sure you change the primary beneficiary to reflect your new situation.
- Settling quickly – If a divorce settlement is still in progress when you pass away, this can tie up your estate indefinitely in probate court, so be sure to clear up and potential legal conflicts with a finalized settlement as soon as possible.
Help in Developing or Updating Your California Estate Plan
The experienced estate planning attorneys at Petrov Law Firm can help you to plan for your future with a comprehensive estate plan that takes good care of your beneficiaries. We can also help you to update an existing estate plan whether due to a change in circumstances, like a divorce, or even something simple such as being a recent move-in into the state of California. Call 619-344-0360 today to schedule an appointment and get your affairs in order.