Divorce Changes Your Estate Plan in West Palm Beach, Whether You Like it or Not this Law May Affect You
Did your dad leave a will with everything going to his ex-wife? Did you know that divorce changes your estate planwhether you want it to or not in Florida? Learn the rules of West Palm Beach probate before you hire a West Palm Beach probate attorney. There are certain basics that everyone should know!
Divorce in West Palm Beach
- Divorce changes the estate plan, no matter what.
- That was not always the case but then we had the peculiar situation where a hated ex spouse inherited the entire estate, that was just bad public policy.
- Florida and many other States have created laws that automatically change the estate upon divorce.
- For example if your wife was your personal representative or left anything in the will, that is all struck after the divorce.
- That does not mean you should not amend your estate plan anyways.
- What else does this statute change?
- In some states divorce only changes the direct bequests in a will but it is a bit more comprehensive in Florida.
- The Statutes here will undo any provisions in relevant trusts and other non-probate assets as well like your life insurance.
- Think about that?
- Your divorce may change your estate plan more than any other amendment, without you even knowing it!
- What other times should you amend?
Amending an Estate Plan in West Palm Beach
- There are several critical times to consider amending your estate plan in West Palm Beach.
- Can you think of any?
- For one thing if you were just married or re-married.
- Also if you have just had children it may be time to account for them in the estate plan.
- If you have recently acquired new assets especially real property you are going to want to talk to your estate planner.
- The truth is its impossible to set out a finite list of times when you need to see a West Palm Beach estate planner or probate attorney.
- If you have experienced a major change in your life that requires revisions of your estate plan do it now, not later.