How Should You Change Estate Planning Documents After a Divorce?

1. Change the Will

Under Missouri law, a will you made during your marriage remains valid after a divorce. However, the law treats ex-spouses as if they passed away first. Changing your will to specifically state how you want to treat your ex-spouse reduces the potential for will contests after you pass away. You can eliminate confusion by removing your ex-spouse as a beneficiary or executor. If you have minor children, you can name a different guardian and someone else to care for them if you pass away before they become adults.   

2. Revoke Power of Attorney

In Missouri, filing for divorce terminates the power of attorney you gave your spouse during the marriage—unless the document states otherwise. If you want your ex-spouse or someone else to have authority, you should revoke the old document, give written notice to your ex-spouse and any third parties operating under it, and create a new one.  

3. Update Beneficiaries

Changing the beneficiaries on your insurance policies, annuities, stocks, and bonds is part of good estate planning after a divorce. If you have death clauses or trust documents for assets such as certificates of deposit, pensions, and retirement accounts, updating them to reflect your current marital status will ensure they don’t go to your ex-spouse.  

Updating your estate plan helps bring closure to the divorce process. The divorce attorneys at Privette Law Firm assist clients throughout Howell County, MO, in reviewing their estate planning documents and making changes to eliminate problems for loved ones. Visit the attorneys online or call (417) 469-3535 to schedule a confidential appointment with a dedicated lawyer.