For many of those in San Antonio who come to see us here at The Law Office of Roland R. Esparza, estate planning is the last thing on their minds. Yet if you’ve recently divorced, have you considered the implications that may have on your estate? If you have yet to give any real thought to how your assets will be disbursed once you are gone, the immediate aftermath of a divorce is a great time to start.
So how can your divorce effect how you will one day handle your estate? Consider these questions:
- What documents related to your estate should be changed? If you have already begun your estate planning, you will want to review the provisions of your will, life insurance policy, powers of attorney, and any revocable trusts you have in place to determine what changes should be made in light of your new circumstances.
- How will my kids be cared for if I’m not there? If you have minor children, you may still want to consider leaving a role for your ex-spouse in your estate, such as a trustee over your children’s inheritance. This will help ensure their support if you are not there. It also helps guarantee the good management of the assets that you leave to them.
- What if you remarry? If you remarry yet never address the succession of your assets in a will, your new spouse and your children could potentially face a tense situation when you’re gone. Texas has laws in place addressing intestate succession, yet the potential for conflict is much lower if you make those decisions for yourself now.
More information of dealing with the aftermath of divorce can be found on our site.