Estate Planning Lawyer Mesa AZ
At The Citadel Law Firm, an estate planning lawyer Mesa, AZ residents trust understands that someone who is going through the emotional turmoil of divorce may not be thinking about their will, trust, or other related documents. The last thing a divorcing spouse may be worrying about is what is written in their estate plan. However, despite the anguish associated with this period of time, you will want to revisit your estate plan if you have included your former spouse’s name.
Most people who separate from their spouse don’t want them to have any assets or responsibilities pertaining to their estate and assets after passing on. So, it’s in your best interest to visit an estate planning lawyer Mesa, Arizona divorcing spouses can depend on from The Citadel Law Firm for guidance and advice on how to make these necessary changes.
Revoke Your Will and Establish a New One
An estate planning lawyer Mesa, AZ clients turn to for advice, may have you begin by revoking your old will, which may entail ripping it up into pieces or putting it through a paper shredder. If you don’t have a will written currently, then your lawyer may advise making one. In a will, it is imperative that you complete the following:
- List beneficiaries for whom you want to receive a portion of your assets
- Name an executor of your will who can handle your affairs
- Include a statement that you wish to exclude and prevent your former spouse from being given any of your estate
- Appoint a guardian for children who may be of minor age when you pass away
Appointing an Executor of Your Will
If you don’t want your former spouse to get your property or other assets, then chances are you don’t want him or her responsible for managing your estate either. If you named your former spouse as an executor of your will, then you will need to choose a new person. For some states, if ex spouses are listed as executors, the court will require someone else to uphold the duty instead, such as an alternate executor.
However, to play it safe, it’s best to write a completely new document with help from our team at The Citadel Law Firm, so their name isn’t in at all. The person you choose as executor should be someone that you trust to act in your best interests after you have passed on. The executor may perform duties such as:
- Obtaining a copy of the will and filing it with the probate court
- Informing credit card companies and other agencies of your passing
- Evaluating whether probate is necessary
- Representing your estate in court
- Paying ongoing or overdue bills from the estate
- Distributing assets to beneficiaries as described in the will (for the cost of a Will click here)
They say that a person should review their estate planning documents when a serious life event occurs, and a divorce is certainly considered one of them. Despite the pain that is part of divorce, it is important to protect yourself so your ex doesn’t have any say about your estate after you pass on. The best action you can take during a period of legal separation, is safeguarding your legacy from your ex-spouse for the long-term.
How The Citadel Law Firm Can Help You
An estate planning lawyer Mesa, AZ residents trust understands that this time in your life is probably very difficult, both financially and emotionally. When clients who are going through divorce contact us about their estate plan, we can talk with them about the many ways that having an attorney by their side can help take the weight off the situation.
If you aren’t sure where to begin with updating or writing a completely new estate plan that doesn’t include your spouse, we encourage you to book a free initial consultation with an estate planning lawyer Mesa, AZ clients rely on from The Citadel Law Firm to learn more. Here are a few reasons why it may be in your best interest to hire an attorney:
A Better Understanding of How Life Insurance Works
If you and your soon-to-be ex spouse have life insurance together, whoever owns this policy is responsible for managing it and submitting payment premiums. This means that your spouse has the ability to change beneficiaries. You will need to make sure that you and your family are going to be provided for in the event of your ex spouse’s premature passing.
As your estate planning lawyer Mesa, AZ clients trust may tell you, life insurance is a crucial component of a divorce settlement. If a trust is the owner of your insurance policy, this is a good way to avoid pitfalls that may otherwise potentially arise during or after the divorce has finalized.
Learn How to Set Up a Trust for Alimony or Child Support
If you create a revocable living trust that lists instructions for paying child support and alimony, you can fund this trust and have payments made based on the provisions described. The benefit of this trust is that funds will go to beneficiaries upon your passing without getting caught up in probate.
There are also tax advantages for couples going through divorce, which were a component of the federal tax reforms that went into effect since 2018. Your estate planning lawyer Mesa, AZ residents depend on can talk with you about whether this law may impact you and the outcome of your divorce settlement.
An Attorney Can Help Protect Your Estate
It probably goes without saying that it can feel like your life is being drained due to the divorce process. You may feel like no one has your best of interest in mind, and all your ex and their attorney does is try to ruin your life. But, you can rest assured that our team has not only the knowledge but the relentlessness to protect you and your estate. We can safeguard against being taken advantage of during this time.
Contact Us Today
If you need help from a seasoned and compassionate lawyer, then contact The Citadel Law Firm to book a free initial consultation with an Estate Planning Lawyer Chandler and Mesa, AZ clients trust for quality legal services.