After Divorce Planning


Divorce Is A Major Life Change:  It invariably creates major upheaval, including major change in each spouse’s financial condition, change in division of assets and liabilities, and change in child  support and custody arrangements.   All of these changes make it vital that, following divorce, or even upon legal separation,   each spouse independently have a professional conduct a full review and enact major changes to the marraige estate planning documents.

One of the first and most urgent matters usually requested in our offices by newly divorced clients who make a rush to our offices immediately upon completing a divorce is to make a fresh start: to remove the former spouse from all the positions held in the marriage estate planning documents, whether it be as named agent/trustee, or as beneficiary designated to get it all.  Due to the extent of changes normally required, usually new living trusts, wills, powers of attorney, health care directives are in order. In addition, care must be taken to substitute new beneficiaries for one’s retirement plans, brokerage accounts, life insurance policies, or other accounts which may not be controlled by trust or will.