At the Hamra Law Firm, we take our responsibility to advise our clients in Missouri on proper estate planning seriously. We believe not only in the importance of establishing a good estate plan but also in managing and updating it as our clients’ lives change. You will likely experience many shifts in your life that necessitate a review of your estate plan. These may include things like the birth or adoption of a new child or grandchild, the death of a spouse or other beneficiary, or a divorce.
If you and your spouse have decided to get divorced, you will want to pay attention to your estate plan. As explained by Forbes, however, you should not expect to immediately change your plans as soon as you separate or file for divorce. You may need to wait until you receive your finalized divorce decree before making a completely new plan. However, you should update some elements of your plan immediately.
Your advanced health care directive and durable power of attorney provide another person the ability to manage your health care needs and your finances, respectively, should you become unable to do so for any reason. These two documents should be updated once you and your spouse have initiated separation or divorce proceedings so that your estranged spouse does not end up having control over these parts of your life.
If you would like to learn more about how you can protect yourself and manage your estate plans before, during and after you get a divorce, please feel free to visit the asset and estate protection page of our Missouri estate planning website.