Estate Planning After Divorce

During a divorce, the couple will review their assets and go through a process designed to divide the desirable possessions and property. Despite the importance of this topic, an issue that is commonly forgotten is designations made regarding the estate of the spouses. Failing to consider this issue may result in the former spouse receiving the property and assets of their late ex-husband or ex-wife.

During a divorce, it is important to talk to an experienced attorney to make sure that you do not forget any details, such as changes to your life insurance policy or will. If you or someone you love is going through a divorce, contact the West Palm Beach divorce attorneys of Eric N. Klein & Associates, P.A., at 561-353-2800 today to discuss your options with a qualified member of our legal team.

Information on Estate Planning after Divorce

Some of the issues that should be addressed after a divorce include:

• Insurance policies- Life insurance policies are designed to divide payments between one or multiple beneficiaries. These people are typically the spouse and children of the policy holder. After a divorce, the benefit distribution may need to be reconsidered.
• Active will- Similarly, the will assigns the assets to the family or friends of the deceased. It is important to remember to make any necessary changes after a couple separates.
• Lack of an active will- Anytime an individual dies that is married and has not created a will, their spouse will receive their property and assets. Anyone going through a divorce without a will should consider putting one together in order to ensure that their children or other relatives will receive desired benefits.

For the most part, Florida law automatically excludes ex-spouses from a deceased individual’s will. However, you may still have to make changes to life insurance policies and other legal documents to carry out your wishes fully.

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Although your will may not require a change after your divorce, other aspects of your estate may need tailoring to ensure that your estate goes to your desired beneficiaries. If you or someone you love is considering divorce, it is important to address all necessary topics. For more information on the importance of property division and divorce, contact the West Palm Beach divorce lawyers of Eric N. Klein & Associates, P.A., at 561-353-2800.