And Make Sure That Your Assets Don’t Accidentally End Up In the Hands of your Soon-to-Be Ex!
If you have gone through, or are in the middle of a divorce, updating your wills, trusts, healthcare directives and other estate planning documents is probably the last thing on your mind.
After all, you’ve likely come through months or years of dealing with lawyers, legal fees and trying to work though tough issues such as the division of assets, custody issues, child support and more.
No doubt estate planning can feel like an added burden during an already difficult time.
Yet, if you do not update your legal documents before, during or AFTER your divorce, you could experience one of the following nightmares:
- You become incapacitated during divorce proceedings and your soon-to-be ex could still have authority over your medical and financial affairs.
- You die without updating key beneficiary designations and your ex-spouse stands to inherit from your estate.
- Even though you meant to protect your assets for your children’s use, you die before the divorce is final and your financially unstable ex gets everything, leaving the children nothing.
Most people would shudder at the idea of their ex-spouse having so much control and this is why it’s critical to update your beneficiary designations and other estate planning documents to prevent your ex-spouse from inheriting money or remaining in positions of authority.
We can help ensure this never happens to you…
Supreme Court Favors Ex-Wife Over Widow In Battle For Life Insurance Proceeds
When Warren Hillman died in 2008 at the age of 66, his assets included a life insurance policy worth $124,558.03. For the past five years his ex-wife and his widow have been fighting over that money. Today the U.S. Supreme Court found that Judy Maretta, who Hillman divorced 10 years before he died, was entitled to every penny of it. (The Court’s decision in Hillman v. Maretta.)
Article source: http://www.forbes.com/sites/deborahljacobs/2013/06/03/supreme-court-favors-ex-wife-over-widow-in-battle-for-life-dinsurance-proceeds/
My name is Shawn Eyestone and I am a local estate planning attorney in Muskegon and Kent Counties.
Our law firm offers a collaborative approach to support you in getting your estate plan updated after divorce.
I have created an educational resource titled, “Stay In Control During And After Your Divorce… And Make Sure That Your Assets Don’t Accidently End Up In the Hands Of Your Ex-Spouse! 6 Legal Documents To Update” that I would like to offer you free of charge.
This educational guide will help you identify the legal and financial documents you will eventually need to update. Many people in the Muskegon and Kent Counties area who have come through, or are in the midst of divorce, find it to be a great resource as they begin preparing their finances and other important documents to reflect the changes in their marital status.
Download your free guide now!
I know that you have a wide array of needs and you are pulled into many directions. But you need to make sure that you’ve done everything you can to keep your assets safe and personal rights protected before, during and after your divorce. Click here to download your free guide now!
