Changing Estate Plans with Divorce
Divorce is life-changing. Updating estate planning documents is often overlooked during this time. After negotiating and navigating the separation of intertwined lives and all that goes with that, the last thing you may want to do is deal with more paperwork. However, it is critical that you review and update your estate plan upon completion of the divorce.
During a divorce, you are not to update or change documents that affect the character or disposition of property without the consent of your soon-to-be ex-spouse. However, Powers of Attorney and Health Care Directives certainly can and should be updated. Once the divorce is final, you should revisit every aspect of your estate plan, since they will all likely need to be changed. For example, if you had a joint Living Trust with your spouse, you will now need to create one that does not include them, and solely carries out your wishes.
Divorce is never simple. But Tresp, Day & Associates can help you craft your estate plan to help you move forward. Call Tresp, Day & Associates today to schedule your consultation and begin planning for your new future. We offer in-person appointments and face-to-face consultations utilizing video conferencing technologies such as FaceTime, Duo, and Zoom.