Probate Lawyer Chandler, AZ
When your divorce has finally been completed, it is vital that you update your will, health coverage and estate plan so that they all reflect your new status of single and divorced. While few states and jurisdictions will use their power to invalidate references to your ex-spouse listed in any of your estate planning documents, many do not and require that you are the one to make updates. Additionally, you will be forced to review your life insurance policy, retirement plans, any joint bank accounts and debts, any health coverage and any assets that you have designated to another person. Should you fail to update your estate plan, it may be forced into probate after your death, which could burden your loved ones and make the process of managing your estate more difficult. For this reason, you should consider scheduling a consultation with a Chandler, Arizona probate lawyer as soon as you can.
Immediately after divorcing, you should update your will. Have a new will prepared and the old one formally revoked; this will discredit any former will or document that named your former spouse as a beneficiary. If you leave your old will the way it was after you divorced and you suddenly died, your former-spouse could claim all of their benefits and assets named in your will. There is no guarantee that your children or other loved ones will receive anything from the will if this occurs. Thankfully, a Chandler, AZ probate lawyer can help.
In the event that you are temporarily or even permanently disabled, or are unconscious by anesthetic for a surgical procedure, the individual that you have given the power of attorney will be able to make healthcare decisions for you. If your power of attorney for healthcare is your ex-spouse, they may make themselves unavailable, or even make decisions against your health out of spite. Failing to change your healthcare power of attorney after your divorce can put your former spouse in the position to make choices that can hurt you in the long run.
After spending copious amounts of time and effort fighting for a divorce and all of your resources protecting your fair share of property and money, allowing your ex-spouse access to all of your accounts, and money could be taking a step back. They will be able to sign checks under your name and enter into contracts for you. You can be sure to protect your money and name by updating your financial power of attorney and putting a new beneficiary’s name down to have power over your money lest you become disabled or incapacitated. The legal team at Citadel Law Firm PLLC can help you to update all relevant estate planning documents in the wake of your divorce, including power of attorney designations.
Additionally, any type of financial policy you may hold should be changed to reflect a new beneficiary designation. This includes life insurance policies, bank accounts that were formally joint, investment and retirement plans as well as pensions in your name. All of these will still be legally owned by your spouse if you do not update them after your divorce. Please schedule a consultation with a Chandler, AZ probate lawyer today in order to begin the process of effectively updating your estate plan post-divorce. This process can be overwhelming, but a Chandler, AZ probate lawyer can make it as low-stress and efficient as possible.