There are many steps involved in the divorce process, and one of the most important ones is updating your estate plan after a divorce. In most cases, spouses have authority over each other’s assets. If you are going through a divorce, it is critical that you update your estate plan so that your former spouse no longer has authority over your assets. Do not hesitate to contact our experienced California estate planning attorneys to learn more about this process.
Should I update my estate plan after a divorce in California?
Typically, a spouse has authority over their spouse’s estate plan. This can mean that the spouse can be a health care proxy, and also share in joint assets like wills and trusts. After a divorce, it is common for a spouse to not want their former spouse to have any role in their assets once they are no longer married. This is why it is important for an individual going through a divorce to update their estate plan to make sure that their former spouse does not have that power any longer.
What documents should I update in my estate plan?
There are many personal documents that need to be updated when you are modifying your estate plan. Every situation is different, and in most cases, someone will need to update one document that another person may not have to. It is important to have an experienced estate planning attorney on your side throughout this process to ensure that you are properly updating the documents that are required. Some of the documents you may need to update include:
- Advanced health care directives
- Last will and testament
- Life insurance
- Power of attorney
- Trust agreements
Should I update my estate plan at times other than a divorce?
It is important to update your estate plan to reflect all of the changes in your life. It is essential to update your estate plan after a divorce, and there are many other events that should incline you to update your estate plan as well. Some examples include in the event you get remarriage, the birth/adoption of a child, the death of a loved one that is included in your estate plan, and more. You should update your estate plan every 3-5 years.
If you have questions or concerns about how to update your estate plan after your divorce, it is in your best interest to reach out to our firm today. Our legal experts are here to help you navigate through this process.
Contact our Firm
Working with an experienced estate planning attorney, such as Jaci Feldman of the Woodland Hills, California, Law Offices of Yacoba Ann Feldman, will ensure that you are taken care of when you need it most. Do not delay. Estate planning is a more urgent matter than you may think. You never know what the future holds. Contact The Law Offices of Yacoba Ann Feldman to schedule a consultation today.