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Hill Crabb Law Firm

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Updating Your Estate Plan After Divorce

Many things change during and after a divorce. It is a major life change that can affect your finances, family structure and goals for the future. After a divorce, it is crucial to make sure your will, trusts, power of attorney and other components of your estate plan still reflect your circumstances and goals.

Uniquely Positioned To Handle Your Post-Divorce Estate Planning Needs

At Hill Crabb, LLC, we practice where family law and estate planning intersect. Since we represent clients in both divorce and estate planning, we are familiar with the ways a divorce can impact the suitability of an estate plan, especially for those facing a high net worth divorce. Revising an estate plan may include revisiting any of the following:

  • Wills
  • Trusts
  • Life insurance policies
  • Retirement accounts
  • Powers of attorney

Any document that lists your ex-spouse as a beneficiary should be revised. Minnesota takes some of the stress out of this process by automatically revoking any provisions left to an ex-spouse in your will. However, this may not always be the case, especially if you have a prenuptial or postnuptial agreement in place that supersedes the automatic revocation. Understanding how this works and what documents you should revise can be achieved by working closely with an estate planning attorney.

If we are already handling your family law concerns, we will be sure to discuss any needed updates to your estate plan. If you are a new client of ours, we will take the time to understand your financial goals and family goals in order to recommend an estate plan that protects what matters most to you.

Not Just Divorce

Divorce is a major life change, but all life changes are a milestone where reviewing your estate plan makes sense. This includes:

  • Having a child: Will they have the resources they need if something happens to you?
  • Getting remarried: Does your estate plan protect the financial interests of your existing children?
  • Starting a business: Do you have a succession plan?

We can help you examine the answers to these questions and more on the way to making sure your estate plan is still meeting your estate planning goals.

Talk To An Attorney About Updating Your Estate Plan

The first step is speaking to one of our experienced estate planning attorneys. Call 612-568-5967 today to schedule a consultation.