From family dynamics to property divisions, divorce changes your entire future. No matter your age or retirement plans, it’s important to carefully consider the impacts that your divorce will have on estate planning, wills, trusts, and future financial planning. In fact, the legal divorce process isn’t over until these aspects of your future are considered and legally solidified. Divorce often means that you will remove your former spouse from any ownership or beneficiary status involving your estate. While there are some legal obligations regarding what your ex-spouse will receive from your estate, the proper planning and execution can mean that you get the justice you deserve in a divorce case. With experience in all the nuances of Missouri divorce law and estate planning law, The Behrens Law Firm has the insight and expertise necessary to help you secure a successful future regarding your estate after a divorce.
What is an Estate?
Making the necessary and desired changes to your estate during a divorce can be a complicated process, especially because your assets and estate are often not as simple as numbers in a bank account. According to EstatePlanning.com, your estate includes everything you own: vehicles, real estate, checking and savings accounts, investments, stakes in a family business, life insurance, furniture, personal possessions, and possibly more!
What Happens to Your Estate in a Divorce?
The fate of your estate in a divorce depends on your case, your desires, and the competency of your divorce lawyer. According to Nolo, the courts usually try to divide estates equitably, which doesn’t necessarily mean equally. When it comes to your personal will, you will probably want to destroy your old one and create an entirely new document which will designate new beneficiaries or at least adjust the distribution of your assets. According to Forbes, individuals entering a divorce should consider these smart steps to take regarding estate planning:
- Update your health care proxy
- Change your power of attorney
- Update your will
- Decide what to leave your spouse
- Consider your prenuptial or postnuptial agreements
- Amend your trust
- Because estate planning amid a divorce is often temporary, it might be advisable to revisit the plan after your divorce is finalized
With extensive experience in estate planning, divorce, and other family law matters in Missouri, The Behrens Law Firm is your clear choice for the most seamless and stress-free legal assistance in the St. Louis area.
Make sure your wishes are fulfilled when it comes to the future of your estate. Don’t lose your hard-earned assets in a divorce battle. The Behrens Law Firm is here to answer your questions, review your estate plan, guide you through any divorce situation, and help you retain the future you’ve worked for. Set up a consultation by contacting us online or calling our office at 314-786-3263.
Behrens Law Firm LLC
75 West Lockwood Avenue
Webster Groves, MO 63119