Going through a divorce involves more than signing a piece of paper. There are many steps you should complete to move forward after such a significant change. Part of this process involves working with your family attorney to revise your estate plans. The following guide outlines the steps you should take both during and after your divorce’s finalization. 

What to Do With Your Estate Plans When Facing Divorce

During

While your family attorney is still settling the divorce, you should focus on any changes that immediately impact your day-to-day life. For example, contact your insurance companies and ask them to update your designated beneficiaries to a different person. You should contact your banks and modify any shared accounts to a single-holder account. If the divorce rules that you should distribute the money in the account equally, your family attorney will handle this step. 

After

Once you conclude the divorce, you can focus your efforts on more complex changes. For example, you should have your family attorney revoke your existing will and then draft an entirely new one. Not only will this new document identify you as the sole owner of whatever property you have left, but it should also name new beneficiaries with reallocated inheritances. You should designate a new power of attorney too and, if applicable, a new guardian for any children you have. 

If you recently decided to end your marriage and are seeking a skilled legal professional to walk you through every step of the process, turn to Michael A. Newland Esquire. Located in Hamilton, OH, this  attorney has experience in  will creations and revisions. With over 20 years in practice, he has the insight and knowledge needed to ensure a favorable outcome for you and your loved ones. Visit his website for more information on his practice, and call (513) 887-9595 to schedule a consultation today.