Many divorcees can agree that their ex-spouse is the last person they want inheriting their assets upon death or making their medical decisions upon disability, so save yourself further stress by updating your estate plan to reflect your life post-divorce.
Divorcing in January might seem like a bad time. It's just after the holidays and comes before tax season. The truth is that January could be the perfect time to divorce, depending on your situation.
There are a lot of things you need to consider when going through a divorce, but one issue is a detail that a lot of newly single divorcees forget. This potential problem relates to the beneficiary designation on your 401(k), IRA and other insurance and investment accounts.
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.