Tips for Modifying Your Estate Plan If You Get Divorced

Divorce brings significant changes, and your estate plan shouldn't be left behind. Whether you had a will and trust drafted years ago or just had them drafted within the past year or so, finalizing a divorce necessitates revisiting your estate plan. Properly modifying your estate plan can help ensure your assets are distributed according to your current wishes and your loved ones are protected. Below, our estate law attorneys at Scaringi Law explain the steps you must follow to modify your estate plan after divorce.

How to Modify Your Estate Plan If You Get Divorced

Going through a divorce is an emotionally charged experience. During the whirlwind of legal proceedings, it's easy to overlook the importance of updating your estate plan. But what happens to your assets if you pass away before finalizing the divorce, or if you forget to remove your ex-spouse as a beneficiary? The answer might surprise you, and it likely won't be what you intended.

Here are some key tips to ensure your estate plan reflects your post-divorce reality:

• Review and Revise: Dust off your will and other estate planning documents. You'll likely need a new will that explicitly removes your ex-spouse as a beneficiary and clearly outlines your wishes for your assets.
• Beneficiaries: This goes beyond your will. Many assets, like life insurance policies and retirement accounts, have designated beneficiaries. Double-check these designations to ensure your ex-spouse isn't accidentally inheriting your hard-earned money.
• Guardianship Reconsidered: If you have minor children, revisit your guardianship designations. If you have concerns about your ex-spouse's ability to care for them, you'll want to appoint a trusted alternative guardian.
• Trusts: If you have a trust, consult with an attorney to understand how the divorce might impact it. Depending on the type of trust, you might need to make adjustments to ensure it functions as intended.
• Seek Professional Help: Don't try to navigate these legal waters alone. An estate planning attorney can guide you through the modification process, ensuring your wishes are documented correctly and in accordance with Pennsylvania law.

Divorce is a complex process, and your estate plan should reflect your new reality. By taking these steps, you can ensure your assets go to the people you love and avoid any unintended consequences for your loved ones.

Protect Your Assets and Secure Your Family's Future

Divorce is a complex process, and your estate plan requires careful attention. Our team of estate law attorneys at Scaringi Law understands the legal nuances of modifying these documents post-divorce. Schedule a consultation today to ensure your wishes are clearly outlined and your loved ones are protected.

To learn more about our law firm, read our clients’ testimonials.

Give us a call at (717) 775-7195 or reach out to us online today to speak with our estate law attorneys about your situation.