925.244.1185
San Ramon, CA

Horizon Elder Law & Estate Planning Blog

Tuesday, July 10, 2018

Estate Planning for Soon-To-Be Divorcees

What changes should be made to my estate plan if I am going through a divorce?

Filing for divorce is a stressful and complex process. With so much on your plate, it can be easy to overlook your estate plan as you go through a divorce. Failing to update your estate plan during or after your divorce can, however, come with devastating consequences. Our San Ramon, California estate planning lawyers explore some vital estate planning steps you should take during a divorce below.

Updating Your Power of Attorney

Chances are you and your spouse executed a power of attorney at some point, giving the other spouse power to access your accounts and manage your assets if you are unable to do so on your own. As you start the divorce process, you should locate your power of attorney and contact your attorney to edit the document. You may be required to notify your spouse of the revocation of power of attorney.

Changing Your Health Care Proxy

Should you end up seriously injured in an accident or due to a medical condition, your spouse is likely vested with the power to make healthcare decisions on your behalf. Post-divorce, it is unlikely you will want to keep your ex as your health care proxy. As such, make sure you update this crucial document.

Update Your Will

Your will likely names your husband or wife as the executor and leaves the majority of the estate to your significant other. As such, it is critical that you draft a new will even before your divorce is finalized. You should revoke your former will and select a new executor. You can also name an alternate guardian for your minor children, even if your ex remains the primary guardian.

Consider Your Prenuptial Agreement

If you and your spouse signed a prenuptial agreement, you will want to review the agreement. Your pre-nup may have clauses within it dictating what your spouse is entitled to upon your death. Your new estate plan must take into account your prenuptial agreement and be consistent with its terms. Contact an estate planning as part of your divorce process. Your estate planning attorney will review your legal rights and take steps to protect you before, during, and after your divorce.

Archived Posts

2019
2018
December
November
October
September
August
July
June
May
April
March
February
January
2017
December
November
October
September
August
July
June
May
April
March
February
January
2016
2015



© 2019 Horizon Elder Law & Estate Planning, Inc. | Disclaimer
2333 San Ramon Valley Blvd., Ste. 145, San Ramon, CA 94583
| Phone: (925) 244-1185

Elder Law | Estate Planning | About

Law Firm Website Design by
Amicus Creative