Contact Us Today! 770-425-6060

Blog

Top 5 Estate Planning Tips for the Newly Divorced from a Cobb County Divorce Lawyer

Posted by Steve Worrall | Feb 18, 2013 | 0 Comments

Top 5 Estate Planning Tips for the Newly Divorced from a Cobb County Divorce Lawyer

Tip #1: Update your will immediately.

This may not be top-of-mind, but updating your will is extremely important if you are going through a divorce.  Having your assets go to your ex can be like adding insult to injury…and can tie up your estate for years to come.

Tip #2: Update your life insurance policy and retirement beneficiaries.

Actor Dennis Hopper was in the middle of a highly contentious divorce when he died.  Since he didn't change his life insurance policy beneficiaries, his ex received the proceeds.  Be sure to name new beneficiaries on your life insurance and retirement accounts so your ex doesn't inherit your assets.

Tip #3: Do not wait until the divorce is final.

Contrary to popular belief, you do not have to wait until your divorce is final to update your estate planning documents.  If your divorce is likely to drag on for months or even years, you can still protect your assets from your ex by updating your estate plan.

Tip #4: Revisit your choice of executor and trustee.

While your ex may become the legal guardian of any minor children if you die, he or she should not necessarily be named as executor of your will or the trustee of your children's inheritance.

Tip #5: Update your Durable Power of Attorney for Health Care.

If you do not want your ex making decisions about your health care, you should update your durable power of attorney for health care as well as your living will.  This also applies to any other advance directives that name your ex as a decision maker.

If you'd like to learn more about estate planning and asset protection and how it affects you in a divorce case in Georgia, call our office today to schedule a time for us to sit down and talk. We normally charge $750 for a Georgia Family Treasures Planning Session, but because this planning is so important, I've made space for the next five people who mention this article to have a complete planning session at no charge. Call us at 770.425.6060 today and mention this article.

About the Author

Steve Worrall

As a sandwich generation kid himself (caring for both children and aging parents), Marietta Georgia Estate Planning Elder Law & Probate Attorney Steve (Stephen M.) Worrall KNOWS the struggles you are facing as you raise children, balance the demands of your job, and take care of your aging parent...

Comments

There are no comments for this post. Be the first and Add your Comment below.

Leave a Comment

More Honors & Accolades


Stephen M. Worrall
Rated by Super Lawyers


loading ...

Menu