When Divorce Hits, Your Estate Plan May No Longer Protect You
Estate planning is about deciding who gets your property, money, and assets after you pass away. It includes tools like wills, trusts, retirement accounts, and beneficiary designations. But if you are going through a divorce, your estate plan might no longer fit your new situation. Divorce changes ownership of property and affects who inherits what. Without updating your plan, your ex-spouse could still receive benefits or inherit assets you no longer want them to have.
Understanding how divorce impacts your estate plan is vital. For example, joint ownership arrangements like joint tenancy need review because the rules about who controls or inherits the property can be complicated. Retirement accounts and life insurance policies often have named beneficiaries that don’t automatically change when you divorce. Oklahoma law also gives a surviving spouse certain rights to your estate unless you take steps to change that. Okla. Stat. tit. 84, §§ 122, 131.
Because these issues can be complex, working with a knowledgeable Tulsa attorney can help you protect your assets and ensure your estate plan reflects your current wishes.
Changes in Property Ownership and Wills After Divorce
When a marriage ends, property ownership often shifts. Joint tenancies may need to be converted to tenancies in common to avoid unintended inheritance rights. Oklahoma recognizes different types of wills—joint, mutual, contractual, and conditional wills—that may be difficult or impossible to change after they are created. This means a will made during the marriage might still leave assets to your ex-spouse unless you update it properly.
Trusts are another important topic. Revocable and irrevocable trusts can help manage property and protect minor children’s interests. A divorce can require revising trust provisions to reflect new circumstances and to avoid tax problems. A qualified estate attorney can evaluate your trusts and recommend necessary changes to avoid unintended consequences.
Retirement Accounts, Beneficiary Designations, and Legal Restrictions
Retirement plans and IRAs often have beneficiary designations that override wills and trusts. This means the person named as beneficiary will receive the funds even if your will says otherwise. Divorce does not automatically change those designations. Oklahoma courts have held that if a beneficiary is changed during a pending divorce but before finalization, the ex-spouse may still have rights to the benefits. Okla. Stat. tit. 43, § 122.
Additionally, courts may issue temporary restraining orders during divorce proceedings that prevent changing beneficiaries or disposing of property. Violating such orders can lead to legal penalties and unintended transfers of assets. Therefore, it is important to wait until the divorce is final before making changes to these accounts.
Why Professional Estate Planning Guidance Matters After Divorce
Divorce lawyers often encounter complex estate planning issues but may not have the knowledge to handle all aspects. Estate planning involves understanding Oklahoma’s laws on intestate succession, statutory rights of surviving spouses, and property titling. For example, a surviving spouse’s interest depends on factors like family status and how property was acquired. Okla. Stat. tit. 84, § 122. Without expert advice, mistakes can leave your assets vulnerable or create family disputes.
Referring clients to an experienced estate planning attorney ensures your entire estate plan is reviewed and updated properly. The estate planner will confirm all property titles, beneficiary designations, and trusts reflect your post-divorce wishes and comply with state law. This approach helps avoid costly court contests and protects your family’s financial future.
Contact an Tulsa attorney Today
Estate planning after divorce involves many moving parts that can feel overwhelming. You do not have to navigate these legal complexities alone. Wirth Law Office can guide you through making the necessary updates. If you need legal help, call Wirth Law Office at (918) 879-1714 for compassionate, clear guidance tailored to your situation.
