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Why should you revise your will after you get divorced?

| Jan 12, 2021 | Divorce, Estate Planning, Wills and Trusts

When you finalize your divorce in Arizona, your former spouse is effectively written out of your will. Even if you die before revising your estate plans, the state will ignore any mentions of your former spouse in your will. However, you should still update your estate documents after you get divorced.

Why should you update your estate plan after you get divorced?

Before you get started, review the estate planning laws in your state and how they pertain to divorce. When you die, some states will throw out the parts of your will that mention your former spouse. However, some will throw out the entire will if it mentions your former spouse, rendering your estate planning useless. Talk to an attorney to learn more about the laws in Arizona.

When you wrote your will, you might have included your former spouse’s children, friends or family members in the division of assets. If you don’t alter your will, these people will still be eligible to receive the assets regardless of your divorce. However, if you don’t want these people to receive a share of your estate, it’s important to update your will with new beneficiaries.

You should also update any documents that give your former spouse a power of attorney. On a similar note, make sure you update the beneficiary designations on your savings accounts and life insurance policies. Otherwise, your former spouse might still be entitled to a share of your estate after your death.

Do you have to rewrite your entire estate plan?

If your estate plan extensively mentions your former spouse and their family, you might want to revise your entire will to ensure that they can’t inherit parts of your estate. An attorney could review all of your documents to make sure that they reflect your current situation.