MA divorcees should be sure to revise estate plans

| Dec 12, 2013 | Family Law

Readers of this blog are well aware of the complexities of divorce. Parting couples can fight over many different legal issues, such as child custody, child support, alimony and property division. These battles can be fraught with emotions, leaving the parties wishing the process was over. Therefore, when Massachusetts residents reach the resolution of their divorce, they often breathe a sigh of relief and try to forget the whole ordeal. But the ripple effects of the divorce may linger, and failing to address them could lead to serious consequences.

Perhaps the most important issue is the revision of estate plans after divorce. First, divorcees should revisit their will to address any changes as to who will inherit the estate’s assets. Second, beneficiary designations should be altered, if necessary. An ex-spouse should be removed as beneficiary from life insurance, retirement accounts and annuities. Changes may also need to be made on titles to real property, bank accounts and deeds. Failing to address any of these may lead to unwanted outcomes, such as an ex-spouse obtaining a large portion of the estate.

With so many issues to address at a time when a divorcing party is tired of the divorce process, the continued help of a Central Massachusetts Family Law Attorney can be invaluable. He or she can assist in determining which documents must be changed and can assist in making those changes in a legally proper way. Then, the party can put his or her mind at ease that their estate is in line with his or her wishes and divorce.

Divorce can be a trying time filled with headaches and heartaches. Yet, just when it seems like it is all over, an individual should take another look to ensure nothing has been overlooked. A family law attorney may be able to help with this process in hopes of reaching a fully favorable and finalized outcome.

Source: Forbes, “Divorcing Women: Don’t Forget To Update These Key Documents,” Jeff Landers, Dec. 4, 2013