Three considerations when updating an estate plan after divorce

March 17, 2017

Your estate plan is something that you can personalize as you see fit. Even if you already have an estate plan made, you must update that plan if you get a divorce. This ensures your loved ones know your wishes for when you can’t convey them yourself. You probably know that you should divide up your assets when you make the plan. There are also many other things that you should consider when updating your estate plan after a divorce.

#1: Provide for your pets

Your pets depend on you to care for them. Since you aren’t with your ex any longer, you can’t count on having him or her to care for the pets. Your estate plan should ensure that your pets receive the care they deserve even after you die. You can name a person to care for your pets and set up a pet trust.

You can’t assume that your family members will care for your dog , cat, or other animals. They might not be willing to do so when the time comes. By handling this as part of your estate plan, you can rest assured that your beloved pet, or even plant, is taken care of after you die.

#2: Give to your favorite charities or causes

Include stipulations that let your family members know what charities or causes must receive part of your estate. You can get creative with this aspect of the estate plan. Giving money or assets to organizations isn’t the only way to be charitable in an estate plan. Instead, you can require that your family members do good deeds with your assets.

One man put a clause in his will that his family members leave a $500 tip for a pizza delivery. You can choose the causes that are close to your heart when you determine what stipulations to put in your estate plan.

#3: Make plans for your funeral

You can include information about your funeral and related plans. You might have a change in where you want to be buried since you are divorced. Include this new information in the plan. If you plan to donate your body to science or your organs to help others, convey this in your updated estate plan. You must let your family members know about your plans.

You should also include this information in your living will and your estate planning documents. One man left his skin to a museum for the preservation of his tattoos. Your estate plan is the place for you to make any wishes you have known. Seek out answers if you are unsure of how you can set your estate up or have any other questions about how to make your estate plan perfectly clear.