Divorce in Minnesota involves untangling years of shared finances and property—a process we’ve helped many clients navigate at Hill Crabb, LLC. Our blog post from April 28, 2022, touched on how financial stress can strain a marriage and complicate divorce proceedings. But what happens to your estate plan once the property is divided? As we launch our estate planning services, we’re excited to offer a seamless way to protect your newly divided assets and ensure they go where you want them after you’re gone.
Property division in divorce often reshuffles your financial landscape. Maybe you’ve kept the family home, taken a larger share of retirement accounts, or walked away with a business. Without updates, your ex-spouse might still be entitled to assets you fought hard to keep—or your wishes for your heirs could get muddled.
Here’s why syncing your estate plan with your divorce settlement matters:
Clarify Ownership: After divorce, updating your will or trust ensures your property goes to your chosen heirs—like your children or a new partner—rather than defaulting to outdated designations.
Protect Business Interests: If you own a business and retained it in the divorce, a trust can shield it from future claims and outline succession plans.
Avoid Unintended Consequences: Retirement accounts and life insurance policies often name spouses as beneficiaries. Failing to update these could accidentally funnel your assets back to your ex.
At Hill Crabb, LLC, we understand the emotional and legal intricacies of divorce. Now, with our expanded estate planning services, we’re here to help you secure your financial future post-divorce. Whether you’re starting fresh or rebuilding, let’s craft an estate plan that matches your new chapter. Reach out today to learn more about how we can support you.