Divorce is a challenging journey, and for many parents, the primary focus during the process is ensuring their children’s well-being—both emotionally and financially. At Hill Crabb, LLC, we’ve guided countless families through custody arrangements and asset division in Minnesota divorces. But what happens after the divorce is finalized? One critical step that often gets overlooked is updating your estate plan to reflect your new family dynamics. As we expand our services to include estate planning, we’re here to help you safeguard your children’s future long after the dust of divorce settles.
During a divorce, your estate plan might be the last thing on your mind. Yet, if you created a will or trust during your marriage, chances are your ex-spouse is still listed as a beneficiary or decision-maker. For example, our past blog post from March 24, 2023, highlighted how divorce doesn’t happen overnight in Minnesota and requires multiple steps even after finalization. One of those steps should be revisiting your estate plan. Without updates, your ex could inherit assets meant for your children—or worse, control how those assets are distributed.
Here’s how estate planning can protect your children post-divorce:
Designate Guardians with Care: If you’re a single parent, naming a guardian for your minor children in your will ensures they’re raised by someone you trust, not someone a court might appoint.
Secure Their Inheritance: Setting up a trust allows you to dictate how and when your children receive assets, protecting them from mismanagement or creditors until they’re mature enough to handle it.
Remove Your Ex from the Equation: Updating beneficiaries and powers of attorney ensures your ex no longer has a say in your estate, giving you peace of mind.
At Hill Crabb, LLC, we’ve seen how blended families and second marriages add layers of complexity to estate planning. Divorce amplifies this. Our new estate planning services are designed to align with the needs of our family law clients, ensuring your children remain your priority—no matter how your family structure changes. Ready to take the next step? Contact us today to discuss how we can tailor an estate plan that reflects your post-divorce goals.