Protecting Your Assets: Importance of Estate Planning in Divorce Cases
One issue that is often overlooked by a party in a divorce action is estate planning. And oftentimes when we’re married and things are going great, we have engaged in setting up a will, setting up an advanced medical directive, power of attorney, or even a trust. And those are all very useful tools in estate planning. Sometimes we often forget that we have done those things.
And if we are going through a divorce, what changes do we need to make to those? So it’s one thing I would encourage you to always have at the forefront of your mind. If you find yourself in a position or a place where divorce seems to be on the horizon, you know, the last thing that you probably want is your ex-spouse making life-altering decisions for your person if you become incapacitated. So always make sure that you have those.
Updating Your Estate Plan During Divorce
You’re reviewing them annually and making refreshments to them. Just make sure that they’re up to date on a yearly basis. It is important to update your estate plan during a divorce to ensure that your wishes are carried out according to your new circumstances. This may involve changing beneficiaries, updating wills and trusts, and making adjustments to power of attorney documents.
By keeping your estate plan current, you can protect your assets and ensure that your wishes are followed in the event of incapacity or death. Consulting with an experienced Tulsa estate planning attorney can help you navigate these changes and make sure that your estate plan reflects your current situation.
Schedule a Low-Cost Initial Strategy Session
If you are going through a divorce in Oklahoma and need to update your estate plan, contact us at 918-879-1681 to schedule a low-cost initial strategy session. Our experienced attorneys in Tulsa, Oklahoma can help you understand your options and make sure that your estate plan is up to date and reflects your current wishes. Don’t wait until it’s too late – take action now to protect your assets and your future.
