How Does Divorce Affect Estate Planning?

June 19, 2015

Each state has individual divorce laws, which means that what’s true in one place is not necessarily true in another. Interpretation varies a lot from state to state when it comes to wills following divorce. This is why both spouses need to be informed and aware of relevant issues. It’s a good idea to set up a meeting with your estate planning attorney early on in the divorce process, if not immediately after you have the relevant paperwork. 1abmezJR5hYDJHyjc0VPrGTiJDHfxxLZ5f_TLBPizE8

If a will is private, or if a death happens before the individual has had time to update it post-divorce, there is no guarantee of intent that will be honored. That’s why it’s valuable to re-draft a second will, outlining a revocation clause for the previous will at all. This reduces confusion and opportunities for argument.

If there is a trust involved, it depends on whether the trust was created as revocable or irrevocable. An irrevocable trust can be updated, but a revocable one may require that divorce papers declare the ability to amend or dissolve it. Consult with your estate planning specialist for more information.


Practice Areas:



Schedule your free Exploratory phone call

Click here to see how we
can be of assistance.

Payment Portal
for Tax and Accounting invoice

This link offers a secure, quick way to complete your payment with Omni360 Advisors LLC.

Our Social Media

Connect with us on Social Media using the following buttons:

Visit our Podcasts

Listen in, Join the Conversation!

Recent Posts

Your Tax Return Is a Roadmap: What to Review Before Year-End

Your completed tax return can reveal planning opportunities before year-end. Review investment gains, business income, retirement contributions, and estimated tax payments with your tax and ...

<p>The post Your Tax Return Is a Roadmap: What to Review Before Year-End first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>

Business Owners: Five Financial Conversations to Have Before December

Before year-end, business owners should review profit projections, cash reserves, major purchases, retirement plan funding, and personal financial goals with their advisory team. The start ...

<p>The post Business Owners: Five Financial Conversations to Have Before December first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>

Before You Make a Year-End Financial Move, Ask How It Affects the Rest of Your Financial Picture

Before making year-end tax, investment, retirement, business, or charitable decisions, consider how each move affects your broader financial picture. Year-end financial planning often starts with ...

<p>The post Before You Make a Year-End Financial Move, Ask How It Affects the Rest of Your Financial Picture first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>