Revising Your Estate Plans After Divorce
Next to the death of a loved one, divorce is generally regarded as one of the most stressful times that a person can encounter. When you are getting divorced, there are usually things that you need to manage that can crop up after the divorce is complete. One of the things that can be easily overlooked is estate planning, according to a leading divorce attorney of the Provo law firm, Larsen Law.
Utah law automatically revokes sections of a previously drawn will that leave decision making and property to your former spouse and his/her relatives after divorce unless other instructions are designated in your will. Even though this is automatically revoked, it is important to make a new will that will negate the former to ensure that your wishes are met. While it is not necessary in Utah to have a lawyer draw up a will, it is a good idea to consult an estate lawyer to receive guidance in preparing your new documents.
In the rare case that you should reconcile with your ex-spouse and remarry, you would need to do yet another will to be compliant with Utah estate laws, which do not revert to a previous version in this condition.
In addition to redoing your will, you will need to change the beneficiary on your life insurance. This includes retirement accounts, life insurance provided by your employer, etc. This cannot be done before the divorce is final, since filing for divorce puts a temporary restraining order on yours and your spouse’s financial accounts.
While you are doing this, don’t forget to update your emergency contact list at work and at doctor’s offices.
The most important designation made in a will is naming a guardian for your child(ren). Indeed, one of the primary reasons that one makes a will is to name a guardian just in case the unthinkable occurs. Here’s where things can get a bit tricky. Unless there is a documented history of abuse, drug, or alcohol addiction, your ex-spouse will become the children’s primary caregiver. If there is a reason that you feel about this, it is important to make sure that you speak to a professional who can guide you in your challenge.
After you receive your divorce decree, ask your Provo divorce lawyer about further steps that you need to take to ensure that you aren’t surprised later with unfinished business related to your divorce.