The divorce process is not the only legal matter that you need to address when your marriage is ending. The experienced Arizona estate planning attorneys at Blake & Pulsifer, PLC can help you move forward and review your existing documents to help you craft a new estate plan.

Divorce means that you need to make many changes in your plans going forward. Even though you may not want to go through another legal process after you have already been through a divorce, you must reexamine your estate plan and make any necessary changes immediately. Do not make the mistake of thinking that your divorce automatically changes your estate plan in the way you might expect.

To discuss any necessary changes to your estate plan, schedule a consultation with an Arizona estate planning lawyer by calling us at (480) 838-3000 at Blake & Pulsifer, PLC. Our law firm has extensive experience in both divorces and estate planning, meaning that we can provide you with a comprehensive approach to your situation.

If you do not review your estate planning documents, beneficiary designations, and powers of attorney, you could be left with unintended results and consequences. Your life has changed, the people close to you have likely changed, and your wishes have probably changed.

Your Estate Plan Must Be Adjusted After a Divorce

Your estate plan reflects your choices for yourself and your family based on your current circumstances in life. After you have gotten a divorce, your circumstances no longer include your ex-spouse. While A.R.S. 14-2804 outlines the estate planning terms that are revoked upon a divorce, the outcome may not be what you expect. Further, depending on the types of assets you have, a beneficiary designation to your spouse may or may not still be valid.  Accordingly, you may end up with unintended consequences.

You Must Change Your Beneficiaries and Your Will

For example, you may have made beneficiary elections for transfer-on-death accounts. You may have had your ex-spouse named as a beneficiary on things like your pension or retirement account. In some instances, those designations stay the same, and in others, they are automatically revoked.  Accordingly, if you do not want your spouse in receive your assets upon your death, you should make new beneficiary elections. On the other hand, if you do want your spouse to receive an asset upon your death, like a life insurance policy, you may need to re-execute a beneficiary designation after the final decree is entered. Failure to review each account individually can result in unintended consequences and unnecessary confusion and tension upon your death.

You may have the need to make other changes to your estate plan. For example, the terms of any divorce agreement or court order may require that you maintain a certain amount of Life Insurance and name your children or your ex spouse as beneficiaries.

You Must Ensure That You Have Powers of Attorney

In addition, you  should reconsider who you want to make medical or financial decisions for you when you cannot make them for yourself. You need to have both a current durable and financial power of attorney.

Unless you take action now, you and your family can end up in a very difficult situation.

Contact an Arizona Estate Planning Law Firm

As much as you may want to focus on other things, being proactive with your estate planning in the wake of a divorce is a must. You can discuss your particular situation with an Arizona estate planning lawyer at Blake and Pulsifer, PLC by filling out an online contact form or by calling us today at (480) 838-3000.