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Taxation & Estate Planning
: Estate Planning and Elder LawAction Item - Check Your Estate Plan Before Filing for Divorce
By Leanna Hamill, Esq.
Some people get overwhelmed with the idea of getting their affairs in order and as a result find it easier to do nothing. To help people with that inertia, I'll be posting weekly Action Items - little steps that take an hour or less that will move you forward in the process and make it less daunting.
Did you know that after you file for divorce you are unable to make changes to your Will and beneficiary designations until after the divorce is final? And that your soon-to-be-ex-spouse could be the one making medical decisions for you if you become incapacitated while your divorce is pending? And that your soon-to-be-ex could have legal access to your medical records (because you gave it to them)?
Not, what you wanted? Do something about it.
Before filing for divorce, check your legal documents to see
- who has access to your medical information?
- who is allowed to make medical decisions for you in the event of your incapacity?
- who has the authority to access and manage your financial accounts in the event of your incapacity?
- who stands to inherit everything under your Will?
- who is listed as the beneficiary of your life insurance policies?
- who is in line to handle any money you leave to your minor children?
Full post as published by Estate Planning and Elder Law on August 11, 2009 (boomark / email).
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