Divorce is one of the most difficult life experiences you can go through. Not only do you have to face the emotional and financial challenges, but there are also a number of legal considerations that must also be addressed. One of the most important tasks to tackle is modifying your estate plan. With your ex-spouse no longer part of your life, it’s likely your estate planning goals have changed, and your documents should reflect this. 

3 Important Estate Planning Steps to Take When Getting Divorced 

Revise Your Will 

In Ohio, if a will was executed pre-divorce, the law will automatically revoke any bequests made to an ex-spouse. This means they will be removed as the executor of your estate and any inheritance you had planned to leave them will be canceled. However, instead of relying on the courts, it’s best to revoke the old will yourself and draft another one. This ensures you have the opportunity to name someone you trust as the new executor and decide exactly how you want your assets distributed.

Update Your Beneficiaries

If your spouse is named as the beneficiary on any assets that are passed outside of a will, you must update the paperwork with new beneficiary designations. This includes life insurance policies, retirement accounts, pay-on-death bank accounts, and transfer-on-death brokerage accounts. An estate planning attorney can help you acquire the right documents to name your updated beneficiaries on. 

Change Your Powers of Attorney

It’s common to appoint your spouse as power of attorney in the event you become incapacitated and unable to communicate on your own, but upon your divorce, there’s a good chance you will want to revoke this authority. Make new powers of attorney that designate someone you can rely on to make medical and financial decisions in your best interests. 

Failing to amend your estate plan after a divorce could result in lengthy and expensive litigation. Make sure your family can avoid this by contacting Zellar & Zellar, Attorneys at Law. They can assist you in creating new documents that meet your current estate planning needs. For more than 50 years, this family-owned law firm has been helping Columbus, OH, residents properly prepare for the future to ensure their loved ones will be taken care of and final wishes carried out as intended. Call (614) 257-1643 to schedule a free consultation, or visit them online for more information on the estate planning services they offer. 

This article is intended to provide general information, and should not be construed as legal advice or in creating an attorney-client relationship.