There are many nuances and complexities involved in a divorce. One of the most important is the modification of an estate plan. It is important to update your estate plan after a divorce to ensure that your former spouse is not in control of your assets or life decisions anymore. If you are going through a divorce, do not hesitate to contact our firm today. Our experienced New York estate planning attorneys are prepared to help you navigate through this process.
Should I update my estate plan after a divorce in New York?
In most cases, a spouse has the authority to manage an estate plan in addition to being the spouse’s healthcare proxy. Spouses also will likely have joint assets, such as wills or trusts. Most spouses after a divorce will no longer want their former spouse to have the authority or access to their estate plan or life decisions. This is why it is important to update your estate plan after a divorce to ensure that your assets are no longer in the hands of your former spouse.
It is critical that you update your estate plan after your divorce to make sure that your assets can go to your chosen loved ones. Contact The Lauterbach Law Firm today to get started on your estate plan modification process.
What documents should I update in my estate plan?
If you would like to adjust your estate plan after your divorce, there are several personal documents that must be updated. Some of these documents may include the following:
- Power of attorney
- Trust agreements
- Life insurance
- Retirement accounts or plans
- Pension
- Last will and testament
- Advanced directive
If you have questions regarding any of the above documents or would like to retain legal expertise, do not hesitate to contact our firm today.
Should I revisit my estate plan after the modifications have been made and the divorce is final?
You should be sure to check over your estate plan once again after your divorce has been finalized. By doing this, you can ensure that any missing details can be included and that nothing has been overlooked. In some cases, those who fail to check over their modified estate plan have ended up in litigation with unintended consequences.
If you are getting a divorce and are going through the process of modifying your estate plan, you will need a skilled estate planning attorney on your side. Contact our firm today to get started.
Contact our Firm
The Lauterbach Law Firm is proud to serve clients throughout Rockland County who are faced with legal matters related to estate planning, real estate, foreclosure defense, landlord-tenant law, business law, and criminal defense. If you require the services of an experienced team of attorneys, contact The Lauterbach Law Firm today to schedule a consultation.
