Remember your estate plan when getting divorced

On behalf of Stange Law Firm, PC posted in divorce on Saturday, March 2, 2019.

If you and your spouse in Kansas have been struggling with marital difficulties and finally decided that divorce is the right option for you, you know that there are many decisions you will now have to make. Certainly, there are numerous immediate decisions you must address such as where you will live, who will the kids be with on what days and how you will tell friends and family members about your divorce.

In addition to these things, you should not forget about other decisions that may have long-lasting effects on your life and your financial assets and future. When it comes to estate planning documents, Forbes indicates that there are some things you may be able to update as soon as you and your spouse separate or file for divorce. One example of such a document may be your advanced health care directive which allows another person to make medical decisions on your behalf should you become unable to do so.

Some estate planning documents may not be allowed to be modified or created until after your divorce is complete as you need to know what assets or debts are part of your single estate. For this, you need to finalize your divorce settlement first.

If you would like to learn more about what type of updates to your estate plan you should or can make during or after a divorce, please feel free to visit the future financial planning page of our Kansas family law and divorce website.

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