If you do not already have an estate plan, it is imperative that you create one as soon as possible. Should you already have an estate plan in place, be sure to update your will during every major life event, such as marriage, birth, or divorce.
Since navigating the complexities of the law can be a challenging endeavor, it is best to retain the services of an experienced Monterey estate planning attorney. Your lawyer can review the size of your estate and work with you to create a comprehensive plan that is up-to-date and in accordance with your last wishes.
Documents you should review after divorce
After your divorce is finalized, you must review your estate planning documents to ensure they reflect your current situation. Failure to update your estate plan may result in will contests and other issues in the event of your death. To preserve your legacy and decrease the chances of disputes arising, be sure to review the following documents after your divorce:
- Will — Your will contains information about how your personal property, assets, and the estate should be divided. It is essential that this document be up to date and in accordance with your last wishes.
- Life insurance policies — If you have a life insurance policy, your ex-spouse may have been your beneficiary. Be sure to review your policy and ensure the right beneficiary is listed.
- Investment accounts / retirement accounts — Your investment and retirement accounts may be the most valuable assets you own. As such, it is important that these documents are current and reflective of your current situation.
- Power of Attorney — Power of attorney is a document that authorizes an individual to manage your affairs if you become incapacitated. Since the person you appoint is given a great deal of power over your life, you must ensure your power of attorney is updated and that the person named is someone you trust.
An estate plan is not something you create and then walk away from. Rather, it must be maintained and revisited to ensure it accurately conveys your legacy to your intended heirs. A knowledgeable lawyer can review the size of your estate, your heirs, and your divorce, and help you devise a plan that reflects your current state of affairs.
Contact an experienced estate planning lawyer in Hollister
For more than 20 years, Giuliano Law helped clients with wills, trusts, and other estate planning matters. If you or a loved one needs guidance creating or updating an estate plan, call (831) 257-8692 or contact us today to discuss your case with a knowledgeable attorney. Serving Hollister, Santa Clara, Santa Cruz, Monterey, and San Benito counties