Divorced or Divorcing? Change Your Estate Plan!

Weddingrings-300x199What is “Divorce Monday”?

The first working Monday of the New Year is the day many couples decide it’s time to call it quits. January has become for divorce attorneys what April is to tax attorneys – the busiest month of the year.

By some reports, the volume of business for divorce attorneys increases by 25% practically over night beginning in January.

So why is January such a popular time to file for divorce?

The holidays have a lot to do with it, according to Divorce magazine.

“If we can just get through the holidays,” some unhappy spouses dream, “maybe things will get better.”

Or…

“We’ll spend the holidays together as a family one last time,” others say with grim determination.

But when the holiday magic is over, the blinders (and often the gloves) come off, and many couples set things in motion to dissolve their marriages.

Make the right decisionspros-and-cons-300x200

There are a lot of decisions to be made, at a time when emotions run high.

And it’s not just the divorce process that couples need to consider.

A major life change is also the right time to review estate plans. Divorce changes everything. Maybe you don’t want your soon-to-be-ex-spouse to be your Power of Attorney or health care agent anymore.

And that’s just the beginning.

We’ve selected some of our top posts about divorce and estate planning to help you during this process. It may be the most difficult time of your life, but don’t make it worse by neglecting to make sure your estate plans are up-to-date, reflect your current wishes, and protect those you love.

1. Divorce and Estate Planning in Connecticut: 5 Steps You Should Take Now
The number one piece of advice in this post is if you don’t have a Will, the time is to create one is now.

2. Why Changing Beneficiaries is Important
Would you want to keep your ex-spouse as your beneficiary?

3. Divorce and Life Insurance: Custodial Account or Life Insurance Trust?
If you have minor children, this is a must read.

4. Create Your Last Will and Testament: Your Child with Special Needs Deserves It
Whether you are a single parent, divorced, or married, if you don’t have a Will, the state decides how to divide your estate, and your special needs child could inherit property from you. Would that jeopardize his or her eligibility for public benefits?

5. 13 Things You Must Know About Divorce and Children with Disabilities
When a marriage breaks up and there are children involved, the ideal situation is when both parents cooperate for the benefit of their children. This is especially true for parents of a special needs child.

Divorce is a curve ball of epic proportions but may ultimately lead to happier new beginnings for all involved. Expert guidance on all the legal issues, including estate planning, will set you firmly on the right path.

Related Posts:
Is Your Estate Plan Ready for the New Year? Reasons Why You May Need to Update It
Estate Plan Updates: Why They Matter and When to Make Them
Estate Planning: Why It’s Not Just About the Money

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