Step Two in Any Divorce Proceeding: See an Estate Planning Attorney

After filing for divorce, it’s important for the client spouse to meet with an estate planning attorney. This is because the client spouse’s goals and wishes for their estate may have changed during the divorce, and their existing estate planning documents may need to be revised. For example, if they previously planned to leave everything to their spouse, they may now want to change that. It’s important to meet with an estate planning attorney to ensure that their wishes are reflected in their estate planning documents. It is very important for someone going through a divorce to see a lawyer who specializes in estate planning as soon as possible. If they already have a will or trust, they should provide copies to the lawyer along with a list of all their assets. The lawyer can then explain how their assets will be handled after their death, and help them create new estate planning documents if needed. For those who don’t have any estate planning documents, they should also see a lawyer to understand what will happen to their assets if they die during the divorce. In Florida, filing for divorce does not automatically change who gets the assets, so it’s important to talk to a lawyer about it. If someone dies without a will in Florida, the state law decides how their assets will be divided. If the person was married with no children, their spouse gets everything. If there are children, the spouse gets $20,000 plus half of the remaining assets. It’s important to see an estate planner right away to make a will and review how assets are owned. If assets are jointly owned, it may be tricky to change ownership. Also, some assets have designated beneficiaries that may need to be changed, like IRAs and life insurance policies. In most cases, a person getting a divorce will want to change these beneficiaries so their assets don’t go to their ex-spouse. In Florida, a divorcing spouse has the right to claim 30 percent of their ex-spouse’s estate, even if they were left out of the will. This can’t be avoided by putting the money into a trust. In other states, this is allowed, but not in Florida. The law might change in the future, but for now, it’s important to consider when planning an estate. In Florida, a spouse can avoid the elective share by making sure all their assets don’t go through probate. This means putting assets in a trust or making sure they go directly to a named beneficiary. If a divorce is happening, it’s a good idea to set up a trust to keep the other spouse from getting access to the assets after death. It’s important to talk to an estate planner early on in a divorce to make sure everything is set up the right way. So, if the spouse dies before the divorce is final, the other spouse won’t get as much. There are no laws saying a spouse in a divorce can’t change their will or do other planning to make sure the other spouse doesn’t get as much after they die, as long as it doesn’t mess up the divorce process. If a parent is getting divorced and has young kids, they need to update their will to make sure their children are taken care of if something happens to them. Even if the other parent is supposed to take care of the kids, it’s still important to name a backup person just in case. It’s also a good idea to set up a trust for the kids so that the other parent doesn’t have control over the money. This will help make sure the kids are provided for no matter what. If you’re getting a divorce and have kids, it’s important to create trusts for them in your estate planning documents. This will protect their money from your ex-spouse and from court guardianship, and also from them if they receive a large sum at 18. Also, if you’re getting a lot of money from the divorce, you may need help managing it for the first time. Your lawyers can help you with this. In conclusion, it is important for individuals going through a divorce to consider their estate planning objectives and consult with an estate planning attorney to address any changed circumstances. It is advised that their divorce lawyer should recommend this step to ensure that legal issues related to estate planning are properly handled.

Source: https://www.floridabar.org/the-florida-bar-journal/step-two-in-any-divorce-proceeding-see-an-estate-planning-attorney/