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 Posted: Tue Aug 11, 2009 12:32 pm Post subject: estate plan following a divorce |
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What happens to an estate plan following a divorce?
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AlicoAgent
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| Posted: Tue Aug 11, 2009 1:00 pm Post subject: |
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| Nothing happens if the couple doesn't take the time to change it. |
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InsuranceExpert
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| Posted: Tue Aug 11, 2009 3:41 pm Post subject: |
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If your talking about a living trust, they'll need to amend it to address the divorce.
This becomes REALLY important if they remarry. The new husband/wife could get everything instead of the child.
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mkortz
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Location: Orange County
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| Posted: Wed Aug 12, 2009 3:48 am Post subject: |
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You should always reevaluate any legal documents drawn up during marriage that weren't addressed during divorce proceedings. For example, my Dad and step-mom divorced after 20 years and Dad got remarried to a woman who had 3 kids. My step-mother has a huge company and alot of money and life insurance.
She has been TOO BUSY to get any thing done about the things listed above. I'm not saying that I want them. She has a handicapped brother she could leave everything to.
However, at this point (6 years after the divorce), everything she has will go to my dad as well as his new wife and kids. So her homes, her million dollar life policy and everything else will go to the man who left her for another (younger) woman.
IF YOU GET DIVORCED, CHANGE THE WILL, CHANGE THE BENEFICIARY, CHANGE EVERYTHING TO PROTECT YOUR CHILDREN OR OTHER FAMILY MEMBERS |
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mswatson27
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| Posted: Wed Aug 12, 2009 10:27 am Post subject: |
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| Quote: | | If your talking about a living trust, they'll need to amend it to address the divorce. |
How do they go for it? Do they need to show it up during the divorce proceedings? Or do they go for it in case they remarry?
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anonymous00
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| Posted: Sat Aug 15, 2009 11:12 am Post subject: |
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Hey AlicoAgent,
Your estate plans must get reviewed while you're getting closer to a divorce.
Are you already divorced?
As per the law you'll remain married until the final decree is signed by the judge. Plasticmind
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Plasticmind
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| Posted: Mon Aug 17, 2009 11:11 am Post subject: |
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Actually, a friend has just filed for divorce...and I'm worried since he had signed the POA. Now, she has the authority of acting as his agent.
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AlicoAgent
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