Updating Your Plan After a Divorce Video

Updating your plan after a divorce may be one of the most important things you can do.

But, don’t update your plan after a divorce if you want your ex-spouse to get some of your stuff.

Hi, I’m Gary DeWitt, Estate Planning Attorney in Northwest Arkansas.

Updating Your Plan After a Divorce – Don’t Do It

No, you don’t have to update your estate plan after a divorce.  That is if you want the possibility your ex-wife will get everything.

Updating Your Plan After a Divorce – The Law

In Arkansas, divorce nullifies gifts left in a Will, but doesn’t do anything for beneficiary designations on accounts and life insurance.  And the law is also quiet about what happens to gifts in your revocable living trust.

Updating Your Plan After a Divorce – Life Insurance

Insurance agents get the opportunity from time to time to tell an ex-spouse that they get the proceeds from their ex’s life insurance policy.  This is because their ex forgot to change the beneficiary on the policy.

Updating Your Plan After a Divorce – Second Marriage

What about the case where this was a second marriage?  Do you want her children getting part of your hard earned money?  Or would rather it all go to your children?

So, yes, you need to update your estate plan after a divorce.

More Information

Feel free to call with your questions or to get my free book, “Secrets of Excellent Estate Planning”. The book is also available on my website.

I will show you how to protect what you have today, and what you leave your kids tomorrow.  You’ll be able to take advantage of my estate planning legal strategies without you or your loved ones having to deal with Probate Courts, long delays, and death tax.

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from DeWitt Law Firm, PLLC