Updating your estate plan amid divorce

On Behalf of | Nov 13, 2019 | Estate Planning | 0 comments

When you divorce your significant other in Tennessee, you may need to work through any number of related matters, and many of them require a good deal of your time and attention. With everything you have going on, it may not occur to you to update your estate plan while your divorce is ongoing, but failing to do so has the potential to lead to trouble. At Law Office of Meghan A. Bodie, we are well-informed about the ways in which you may want to change your estate plan when you divorce, and we have helped many clients facing similar circumstances make necessary changes that benefit them in the long run.

According to Forbes, unless you make certain changes to your estate plan amid divorce, your former partner, in many cases, maintains certain rights. There are, however, several things you can do during your divorce that may limit the power your ex has over you while still allowing you to meet your legal obligations with regard to this person.

For example, if you are able, you may want to consider updating your power of attorney, and particularly if you gave this responsibility to your former spouse and no longer want him or her to have it. Otherwise, your ex could maintain access to your bank accounts and other finances until your divorce finalizes, and if things turn ugly, this could prove highly problematic.

Similarly, you may want to consider changing your health care proxy amid your divorce, unless you trust your ex to continue to look out for your best interests, should you pass away or become incapacitated before your split becomes final. You can find more about estate planning by visiting our webpage.