When it becomes apparent that divorce is inevitable, you should consult with your estate planning attorney to discuss what updates need to be made to your estate plan to reflect the impending divorce. Some changes may not be able to be made until after the divorce is final; however, your estate planning attorney can guide you through when and how to make changes. Important updates to your estate plan during or after a divorce may include:
- Change the Executor of your Will and the Trustee of a trust.
- Update the terms of your Will to reflect the fact that you are no longer married.
- Change beneficiary designations on life insurance policies, retirement accounts, financial accounts, and any other assets that include beneficiaries.
- Update advance directives and powers of attorney by appointing a new Agent.
