Protect Your Legacy Through Estate Planning After Divorce
While we prepare estate plans for clients who are in all different life situations at Cross Glazier Reed Burroughs, PC, a substantial amount of our practice involves creating estate plans for the recently divorced. A divorce is a major life-changing event and one that generally renders a former estate plan stale. Your old estate planning documents may have named your former spouse in various key roles and left them significant property, which you will likely need to revisit and update.
At Cross Glazier Reed Burroughs, PC, our estate planning attorney, Mike Kohlhaas, has over two decades of legal experience in wealth transfer planning. Mike is also licensed to practice law in Florida and can assist clients with Florida legal issues that may affect their estate plans.
The Benefit Of Working With Cross Glazier Reed Burroughs, PC
The conclusion of a divorce, when many people wish to be distancing themselves from working with lawyers, may seem a daunting time to update or create an estate plan. But, it’s actually an important time to consider your estate plan. There are several benefits to having us, as the law firm that handled your divorce, prepare your updated estate plan, including:
- Knowledge of your overall financial situation
- Knowledge of your family relationships
- Our files contain your key financial documents
Further, the terms of your divorce may require you to undertake certain actions that affect your estate planning, such as establishing a life insurance trust for the benefit of your children to secure a child support obligation. Perhaps you need to divide your retirement assets through a qualified domestic relations order (QDRO). As your divorce counsel, we will know exactly what estate planning commitments exist in your divorce decree and how to best execute them.
Preparing For Your Family’s New Future
If you are a newly divorced parent, you may also face unique estate planning challenges that you need to address. This may include providing for your children’s financial future (without leaving money directly to your former spouse) or appointing an intended guardian in the event the other parent is unable or unfit to take over custody of your children.
In addition, if you enter a new relationship in the future, you may want to protect your children’s inheritance. A prenuptial agreement can clarify expectations for both parties and act as a supplement to your overall estate plan if you remarry.
We Are Ready To Help
We understand that divorce is not an easy process and you are ready to put it behind you. Updating your estate plan to reflect your new future is an important final step to securing your assets, and we are here to help. Schedule a consultation with our estate planning attorney, Mike Kohlhaas, by calling 800-461-7459 or filling out our online contact form.