Upon a divorce, you should immediately take action to assure your estate plan reflects your new marital status. You should start by reviewing and revising any estate planning documents—trusts, power of attorney, will, life insurance policies, and retirement accounts. Potentially, if you do not change your estate planning documents, parts of your estate can end up going to your ex-spouse, which may not be what you intended. Also, you must make sure that any changes are in line with the provisions of your divorce decree because it is a legally binding document.
See Mark Eghrari, The First Thing You Must Do When Your Divorce Is Finalized, Forbes, August 14, 2016.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.
