Estate Planning After Divorce
Updated: Oct 29, 2019
After a Judgment of Divorce is entered with the court making the divorce final, it is time to change and/or update your estate plan. Although Judgments of Divorce generally extinguish the parties' rights to any Will that was in place during their marriage, it's not always that simple. The truth is that if your ex-spouse continues to be listed as a beneficiary, he/she may be entitled to some or all of your estate upon your death.
Therefore, it is extremely important to change and/or update your Will, Trust, and any Powers of Attorney as soon as possible after your divorce is finalized. On the other hand, if you never had a Will, then now is the time to have one drafted. Having a Will, Trust, and Power of Attorney in place will prevent your family from having to go through the lengthy, stressful, and costly process of probate court, and the unfortunate possibility that some or all of your estate could be distributed different than your wishes.