Strategies for estate planning during a divorce

Strategies for estate planning during a divorce

JDSUPRA:  Divorce is a fact of life in America. It should come as no surprise that it can be a difficult process and can cause other aspects of a person’s life to be ignored while it is happening. It is important, though, that a divorcing individual involve his or her estate planning attorney in the divorce process to make sure that any settlement agreement and estate plan comport with post-divorce reality. In many cases, a divorce will automatically eliminate a former spouse from receiving any benefits under the other spouse’s will or revocable trust. This may not be the case in all states, though. Moreover, the divorce may not affect assets that have beneficiary designations, such as life insurance and retirement benefits (and, more commonly now, bank and brokerage accounts). Thus, a careful review of all of an individual’s assets is essential.”

By |2018-10-29T16:15:51+00:00November 2nd, 2018|

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