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Whether or not you are thinking about getting a divorce, it’s important to make sure that your assets go where you want after you pass. While you can’t always anticipate a major change like a divorce, life can be uncertain so you should always prepare for the unexpected. If you haven’t created an estate plan yet, or created one a long time ago, now is the time to update it to ensure everything is up-to-date in case of an emergency.

The team of attorneys at The Law Office of Julie A. Paquette has extensive experience in estate planning, wills, trusts, and power of attorney for Michigan residents. Ensuring you have a plan set up can give you confidence knowing your final wishes are respected and your assets are properly divided among your loved ones as you intended.

What Can Go Wrong During a Divorce Without an Estate Plan

If you aren’t convinced why estate plans are so important in Michigan, consider the following scenario: You’re in the midst of a divorce, but pass away before it’s finalized. Legally, your spouse remains your next of kin and primary beneficiary. Because of this, they could inherit your entire estate, regardless of your intentions or final wishes.

If your former spouse remarries but also passes away shortly after, their new partner would then inherit their estate, including all the assets your former spouse inherited from you. If you had children in this scenario, they would not receive anything. Without a proper estate plan, your children could be entirely disinherited from your estate, even if that was never your intention.

This is why creating and regularly updating your estate plan is so important. It ensures your wishes are honored and your loved ones are protected, especially in the face of unforeseen circumstances.

Why is Power of Attorney So Important?

Ensuring you have updated the individual you wish to have power of attorney is also critical. If you were injured in a serious accident and left unable to make your own medical decisions during your divorce, or at a time when you were considering divorce, the person who you previously named your power of attorney would have the authority to make medical choices on your behalf.

While these situations seem like they may not happen regularly, they are more common than you think. We have handled numerous cases for individuals who pass away or become incapacitated during their divorce, and it can be very difficult for the other family members to understand the legal mess that is presented if an updated estate plan is not in place.

How To Handle Your Estate Plan After a Divorce

If you are planning on filing or have already filed for divorce in Michigan, there are certain things you should do to make sure your estate plan is updated to protect you and your heirs. These include:

  • Sharing your divorce agreement with your estate planning attorney so they know what obligations you have to your ex-spouse after you pass
  • Updating the individual who will be your power of attorney
  • Reviewing guardianship if you have children that are minors

An estate planning attorney can help you determine which parts of your plan should be updated in case of a divorce. Revising your estate plan before getting divorced is crucial to ensure your assets are distributed according to your current wishes, rather than outdated ones that may include your soon-to-be-ex-spouse as a beneficiary. It also allows you to revise powers of attorney and any healthcare directives to avoid your ex-spouse making critical decisions on your behalf.

 

Get In Touch With The Law Office of Julie A. Paquette

If you are currently going through a divorce, or considering filing for a divorce in the future, it is vital that you create an estate plan now rather than waiting until it’s too late. Contact us so we can help you create a personalized estate plan for you to ensure all of your affairs are in order.

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