Thursday, January 11, 2018
Nearly half of all marriages in the United States end in divorce. The divorce rate for second marriages and beyond is even higher. Though estate planning is rarely a priority after a divorce, it is important to understand state laws regarding wills. In most states, an ex-spouse is prohibited from receiving assets as a beneficiary of a will drafted prior to divorce. In the event of a remarriage, there are three important steps you might consider to ensure your estate is handled according to your wishes: 1) rewrite or revoke your will, 2) update all beneficiaries, and 3) update powers of attorney.