Divorce
Discover the impact of divorce on estate plans and how to effectively update your strategy to protect your assets and intentions.
How does divorce affect my existing estate plan?
Divorce can significantly impact your estate plan, necessitating changes to documents like wills and trusts to reflect new circumstances. Beneficiary designations on assets such as life insurance or retirement accounts might need updating to ensure they align with your current wishes. Moreover, divorce may revoke shared roles like co-trustees or powers of attorney. It's advisable to review and revise your estate plan thoroughly post-divorce to maintain alignment with your changed legal and financial status. While these steps can help manage the transition effectively, remember this information is general and not legal advice.
