Estate Planning for Post-Divorce Individuals
After a divorce, certain estate planning measures should be taken in order to ensure that your best wishes are intact in case anything unfortunate should happen. You will need to be sure that certain details are attended to, such as replacing your former spouse as a beneficiary of your will. If you are rearranging your estate and probate needs following a divorce, hiring a professional to assist you may be the best course of action. The following are several factors worth considering when planning your estate after a divorce.
Changing Your Beneficiaries
One of the first actions you may want to take after a divorce is to change the beneficiaries named in your will. If your former spouse was a …show more content…
You might have given your spouse the power to make medical and other health care decisions for you, in case you became incapable of making such decisions for yourself. Unless you wish to leave your former spouse with this responsibility, you will need to designate a different person as the one who will have power of attorney regarding your health.
Power of attorney can also extend to financial matters. This means that if you are unable to make decisions for yourself, your spouse could change the beneficiaries of your estate, sell or purchase real estate, and even close or open financial accounts in your name. Your spouse would also be able to receive certain government benefits that belong to you. If you don’t want your former spouse to retain such rights after your divorce, then changing the legal documents associated with power of attorney will be necessary.
Going through a divorce may be an uncertain time for you, but a legal professional can help you to deal with the circumstances. Reestablishing the details of your estate will probably be an essential aspect of this process. Once you have changed the legal documents related to your estate according to your wishes, you may enjoy peace of mind and move on to other
After a divorce, certain estate planning measures should be taken in order to ensure that your best wishes are intact in case anything unfortunate should happen. You will need to be sure that certain details are attended to, such as replacing your former spouse as a beneficiary of your will. If you are rearranging your estate and probate needs following a divorce, hiring a professional to assist you may be the best course of action. The following are several factors worth considering when planning your estate after a divorce.
Changing Your Beneficiaries
One of the first actions you may want to take after a divorce is to change the beneficiaries named in your will. If your former spouse was a …show more content…
You might have given your spouse the power to make medical and other health care decisions for you, in case you became incapable of making such decisions for yourself. Unless you wish to leave your former spouse with this responsibility, you will need to designate a different person as the one who will have power of attorney regarding your health.
Power of attorney can also extend to financial matters. This means that if you are unable to make decisions for yourself, your spouse could change the beneficiaries of your estate, sell or purchase real estate, and even close or open financial accounts in your name. Your spouse would also be able to receive certain government benefits that belong to you. If you don’t want your former spouse to retain such rights after your divorce, then changing the legal documents associated with power of attorney will be necessary.
Going through a divorce may be an uncertain time for you, but a legal professional can help you to deal with the circumstances. Reestablishing the details of your estate will probably be an essential aspect of this process. Once you have changed the legal documents related to your estate according to your wishes, you may enjoy peace of mind and move on to other