Important Estate Planning Issues Related to Divorce
If you are preparing to end your marriage, it is vital to understand that your divorce may be one of the most challenging experiences of your life and affect you for years to come. While you are likely bracing for your new reality as a recently divorced single person, one thing you should not overlook as you begin the next chapter of your life is your estate plan. It is very likely that if you have a will, trust, or other estate planning documents in place, you have your ex-spouse listed as a beneficiary. You may also have them included in beneficiary designations for specific accounts, such as your retirement account or life insurance policy. When you have decided to end your marriage, completing the divorce process is just the first phase of restructuring your life.