Any major life event can mean updates for your estate plan, or the perfect time to start one. So it should be common sense that you should consult an estate planning attorney after a divorce. Kairos Law Group exclusively practices estate planning, so we know how to keep your plan current with your life, and help ensure that your assets and wishes are protected. Let’s look at some of the ins and outs of estate planning post-divorce.
Estate Planning Essentials Post-Divorce
After a divorce, your financial and life goals may shift dramatically. It's important to sit down with an estate planning attorney to begin the planning process to protect your new aims or update your current plan to reflect the changes in your life. Some key considerations post-divorce include:
Updating Beneficiaries: Following a divorce, you may need to name or revise the beneficiaries listed in your will, trust, life insurance policies, and retirement accounts. Failing to establish or update these designations could inadvertently benefit your former spouse, rather than your intended heirs.
Guardianship Designations: If you have minor children, it's crucial to create or update your guardianship designations post-divorce. You'll want to ensure that your children are cared for by a trusted guardian in the event of your passing.
Asset Distribution: Divorce can significantly impact how your assets should be distributed upon your passing. An estate planning attorney can help you create a new plan that aligns with your current wishes and circumstances.
Power of Attorney: Consider updating or establishing your power of attorney documents. You may want to appoint someone new to manage your financial affairs or make healthcare decisions on your behalf if you are unable to do so yourself.
Tax Implications: Divorce can have significant tax implications for your estate. Consult with a tax advisor or estate planning attorney to understand how changes in your marital status affect estate taxes, income taxes, and other financial considerations.
Protecting Your Legacy with Kairos Law Group
At Kairos Law Group, our experienced estate planning attorneys specialize in helping individuals through the complexities of estate planning for all of life’s changes, including divorce. We understand the emotional and financial challenges you may be facing and are here to provide guidance every step of the way. Kairos Law Group is proud to offer our clients:
Clear-Cut Costs: We are always transparent with our pricing, and have flexible payment options to fit your financial circumstances.
Expertise: We specialize in estate planning, so we’re always up-to-date with any changes in the field and can give you insights that general practice firms might not.
Accessibility: We offer virtual meetings, and we make the time for you with flexible scheduling.
Simplicity: We have streamlined processes, and a client-centered, user-friendly approach.
Customization: Our attorneys give you tailored solutions to meet your individual needs and life circumstances.
Education: We always let you know what’s happening throughout the process, teaching our clients is central to our estate planning approach.
Don’t Wait to Update or Start Your Estate Plan With Kairos Law Group
Don't hesitate to reach out to Kairos Law Group in Omaha, Nebraska, or Tampa, Florida. Our skilled estate planning attorneys are here to help you protect your legacy and secure your assets for the future. Contact us today to schedule a consultation and take the first step towards peace of mind.
