Estate Planning

Estate Planning and Divorce

By David M. Goldman

Leanna Hamill of the Massachusetts Estate Planning and Elder Law Blog has recently posted two useful and informative articles (Part 1 and Part 2) about Estate Planning and Divorce which was summarized on the Georgia Wills and Probate Law Blog.

In addition Paul Rabalais recently wrote a similar article on the Louisiana Estate Planning Blog Importance of Estate Planning Amplified When There's A Second Marriage
The articles suggested revoking and or creating new Durable Powers of Attorney and Designation of Health care Surrogates as well as the importance of involving your Florida Estate Planning Lawyer in your divorce before it is finalized. Often wills, trusts, and non-probate assets will need to be retitled at the time of the divorce. In Florida, there is an automatic stay on changing the title or disposing of assets after a divorce has been filed in the courts.

After your divorce, in addition to signing your new estate planning documents, you should also make sure that you have changed the beneficiaries on any life insurance policies, 401(k) plans, IRAs, and any other accounts that may have had your former spouse listed. If you have set up a trust, your estate planning attorney can assist you in making sure that the trust is properly named as the beneficiary of these accounts.

Full post as published by Florida Estate Planning Lawyer Blog on April 17, 2008 (boomark / email).