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Post-Divorce Estate Planning Attorney in Washington, D.C. Assisting Clients in Planning For The Future
If you have just finalized a divorce with your former spouse, the last thing you may want to do is deal with more legal issues. However, if you fail to update your estate planning documents, your ex-spouse could inherit a large portion of your property and other assets.
In most instances, if an individual obtains a divorce but dies before updating their estate plan, the court will closely scrutinize the legal aspects of the estate planning documents. However, this does not mean that your ex-spouse could not inherit or retain legal powers that you no longer want them to have on your behalf.
For this reason, it is in your best interests to contact a knowledgeable attorney who can evaluate your old estate plan and help create a new one that is tailor-made for your needs.
Contact the Father’s Rights Firm of Washington, D.C., immediately to schedule a strategy session to learn more about how we can assist you with protecting your assets.
Why Do I Need to Update My Estate Plan After a Divorce?
When you created your estate plan, you most likely named your former spouse as a beneficiary, executor of a will, or trustee of a living trust. Additionally, you may have been granted a power of attorney to make financial or medical decisions on your behalf should you be incapacitated.
However, now that you have divorced, you may not want them to retain these powers or have access to your finances. Therefore, updating your estate planning documents will successfully prevent your ex-spouse from having any legal authority should you pass away.
Finally, depending on the circumstances of your divorce, you also may need to make different decisions on who would be a guardian for your minor children or distribute their inheritance.
If you are still trying to determine the benefits of post-divorce estate planning, contact our law offices and ask to schedule a strategy sessionn with our attorney, who can provide more information about how we can help you protect your assets.
Our law firm is passionately committed to helping you feel confident that your interests are protected and that you feel confident moving forward with your new life.
What Estate Planning Documents Should Be Updated After a Divorce?
After a divorce, you must revisit all the estate planning documents you created while married. Failure to update the documents could result in your intended beneficiaries being unable to obtain the assets they need if you pass away.
Therefore, it is advisable that you create a new estate plan as quickly as possible. The new estate planning documents that you need to draw up include:
- Will
- Trust
- Power of Attorney
- Guardianship
- Advance Directives
- Durable Power of Attorney For Healthcare (attorney, in fact).
You should also change the beneficiary designations for life insurance policies and financial accounts.
One of the most crucial aspects of post-divorce estate planning involves deciding guardianship issues for your minor-aged children should you pass away. If you plan to leave them an inheritance, you want to be sure that your children are appropriately cared for by someone you trust.
You must establish a trust to ensure that your children receive the proceeds of your life insurance policies. Then, a reliable trustee can distribute the life insurance proceeds to your children per your stipulations.
How Can Remarriage Affect Estate Planning?
If you decide to remarry but have children from a previous marriage, estate planning is essential to ensure they receive the assets you intend for them to receive. Once you remarry, your current spouse will have legal rights that can supersede those of your children concerning how your money and other assets should be divided.
With an estate plan that explicitly names your beneficiaries, your new spouse and children could avoid an expensive legal dispute. Resolving a legal dispute typically takes significant time, leaving your children without the financial resources they need after you are gone.
That being the case, creating an estate plan with an experienced attorney should be your top priority. If you do not make an estate plan that specifically leaves assets to your children from a prior marriage, your new spouse can dictate what they will receive from your estate.
The Father’s Right Firm understands that you love your children and want to ensure they receive their rightful inheritance. Our post-divorce estate planning attorney can review your circumstances and help you create a custom-made estate plan that will adequately provide for your children after your death.
Why is Your Post-Divorce Estate Planning Attorney The Best Choice For My Legal Needs?
We understand that you have just gone through a traumatic experience with finalizing your divorce. However, you must remember that you cannot start your new life until your estate-planning documents are updated.
Our law firm is passionately committed to helping you with your legal needs. We also recognize that crafting a new estate plan can be challenging because it brings up emotional issues that may remind you of happier times with your former spouse. However, creating a new estate plan can help you begin a new chapter in your life.
We will thoroughly review your assets, who you want to inherit, and how other estate issues should be handled after your death. Finally, we will also ensure that your needs are provided for as you grow older and may need help making legal and financial decisions.
Our legal staff strives to treat each client with the care and compassion they deserve during this emotional time. Contact The Father’s Right Firm of Washington, D.C., at 1-877-CUSTODY to schedule a strategy session with our experienced attorney to learn how we can assist you with your financial needs.