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Home / Estate Planning / Divorce Calls For Estate Plan Review

Divorce Calls For Estate Plan Review

May 25, 2011

Estate Planning Tagged With: elder law, Estate Planning, Inheritance Planning

Estate planning lawyers like to remind people that even younger adults should have a rudimentary estate plan in place. When exactly is the time right? It would be logical to assert that you should have an estate plan in place soon as you become a self-supporting adult. Even if you don’t have a significant store of assets, you certainly have some things of value and you would also do well to consider getting your advance health care directives in place.

Once you get married an estate plan becomes all the more important because it is very likely that your spouse is relying on your income to maintain his or her quality of life. And of course once you have children an estate plan becomes absolutely essential. You must be sure that you have adequate life insurance to provide for your family come what may, and you also must assert your choice of guardian should you and your spouse pass away together in some sort of accident. At this point you probably will start to take long-term planning more seriously and begin to contribute to an individual retirement account and otherwise start to accumulate assets with an eye on the future.

Given all the above, if you were to get divorced it would certainly have an impact on your estate plan. Most will say “this will never happen to me,” but as many as half of marriages end in divorce. It may not be the first thing on your mind during such an emotional time in your life, but divorce does call for an estate plan review because it is very likely that you will want to change your beneficiaries and otherwise alter your long-term financial trajectory. The most efficient way to proceed is to simply arrange for a consultation with your estate planning attorney who will make the proper recommendations and make sure that your post-divorce wishes are legally supported.

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Paul Gantner
Paul Gantner
I am an owner of Amen, Gantner & Capriano, Your Estate Matters, L.L.C. I have been able to bring my business and legal education and experience into a firm that has for many years provided comprehensive estate plans that meet clients’ needs and expectations.My passion has been creating and constantly pushing AGC’s mission of “Helping Families Secure their Legacies by Embracing them into the Law Firm Family through Long-term, Personal Advisory Relationships.”
Paul Gantner
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Filed Under: Estate Planning Tagged With: elder law, Estate Planning, Inheritance Planning

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About Paul Gantner

I am an owner of Amen, Gantner & Capriano, Your Estate Matters, L.L.C. I have been able to bring my business and legal education and experience into a firm that has for many years provided comprehensive estate plans that meet clients’ needs and expectations. My passion has been creating and constantly pushing AGC’s mission of “Helping Families Secure their Legacies by Embracing them into the Law Firm Family through Long-term, Personal Advisory Relationships.”

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