Addressing Your Estate Planning Needs After Divorce
Most couples arrange for their estate to pass to their spouse in the event of death. After a divorce, you probably don’t want your ex-spouse to inherit. But changing your will is more complex than just crossing off the spouse’s name.
At Palmer Lehman Sandberg, PLLC, our experienced lawyers frequently assist clients with estate planning in the context of divorce. If you are preparing for divorce or have recently divorced, it is important to update your will, powers of attorney and other documents accordingly. Our law firm offers comprehensive family law and estate law counsel to diverse clients in Dallas County, Collin County and surrounding North Texas.
How Should Your Will And Other Estate Documents Change If You Divorce?
Once you are lawfully divorced, your ex-spouse will automatically, as a matter of law, be deleted from the will. But that is not the whole story:
- If you were to die before your divorce is finalized, established case law indicates that your ex-spouse would still inherit the bulk of your estate.
- Your former spouse may still be listed as the beneficiary of your 401(k) or other qualified retirement plan, life insurance and other valuable assets.
- Your ex-spouse’s name may still be listed on credit cards or the title to your house or car, leaving you on the hook or tying up those assets.
- If your ex does not inherit, who should? Your children? Siblings? Parents?
We will sit down with you to take a fresh look at your last will, your powers of attorney, plans for guardianship of your children and all other facets of estate planning. Your financial picture and overall future have been altered by divorce, and your estate plans need to reflect that. If your estate will pass to your children, we can help set up a trust so that they do not inherit too young.
We Know The Important Considerations When A Marriage Ends
Our legal team will explain options and help you make confident decisions to ensure that your estate plans make sense for your life after divorce. To schedule your consultation, call 214-242-6444 or email our firm anytime.