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Divorce, estate planning, death and disability

On Behalf of | Jan 25, 2019 | Divorce

Many people realize that moving forward with a divorce will prompt an array of changes in their personal, financial and even professional lives. What some fail to remember, however, is how important it is to revise an estate plan once a marriage comes to an end. In fact, failing to do so could be extremely detrimental in the event that someone becomes disabled or passes away before the final decree of divorce. If you are splitting up with someone you have been married to and they are included in your estate plan, it is crucial to handle these matters swiftly.

In the event that someone becomes incapacitated due to a serious disability or they pass away, their estranged spouse may have access to their estate and control over the way in which their estate plan is handled. In many instances, this goes against what the person who passed away or became incapacitated would have wanted, but it may be too late for them to make the necessary revisions. As a result, you should not postpone the revision of your estate plan if you are splitting up with your spouse, whether they have been given the authority to control your estate plan or are listed as a beneficiary.

Some people may expect to live for many more years, but unexpected accidents happen all the time. Sadly, the likelihood of such an accident may be even greater for some people due to stress and other hardships that arise as a result of breaking up with someone they have been married to for so many years.