Revisiting your estate plan amid divorce

Like many other North Carolina residents, you may have worked on creating an estate plan once you married, and you may have decided to feature your spouse prominently in those future plans. At Daughtry, Woodard, Lawrence & Starling, we understand that your estate plan may require updating once you and your spouse decide to go your separate ways, and we have assisted many clients as they navigate this and many other divorce-related issues.

Per Forbes, revisiting your estate plan periodically is a good idea under any circumstances, but you may find it especially necessary to do so once the end of your marriage is in sight. While your divorce is in the works, your spouse will typically have certain rights and legal obligations, and he or she will likely still have the ability to have control over your affairs during this period if you pass away or become incapacitated.

This does not have to be the case, however, and there are several things you can do to limit how much power your spouse retains throughout your divorce. For example, you may want to take this time to update your health care proxy and give someone other than your spouse the power to make health care-related determinations on your behalf, should the need present itself.

You may, too, want to revisit any power of attorney arrangements you have in place. If you gave your spouse durable power of attorney, which is quite common among married parties, you may want to revoke that power. This typically involves giving someone else power of attorney while notifying your spouse of the change. You can find out more about estate planning by visiting our webpage.

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