What Happens to Your Estate Plan After Divorce (video blog)

Transcript:

Hey there I’m Bridget Mackay, an estate planning attorney here in Petaluma, California. And I want to talk to you a little bit about what happens to your estate plan when you divorce. So, when we’re in the middle of a divorce or a breakup in a relationship, usually we’re mostly focused on that, right? Who’s going to get what, how things are going to split, where we’re going to live, what’s going to happen with the children if you have them, and it can be all consuming. 

But in the meantime, you might have an estate plan as well with this person whether it’s a will or a trust plan. And that doesn’t go away just because you’re in the midst of divorce. It’s particularly critical to take a look at that before your divorce has become officially final. Because if something were to happen to you in this time period, everything and the control of everything you have may go to the spouse that you are trying to leave. So,  I suggest for folks in this situation to really take a look at their estate plan if they have one, and if they don’t have one, to put one in place. Now, while you’re waiting for the divorce to be final, usually a will is the only thing you’re going to be able to use. But in that will, you’ll be able to nominate who your executor is, how your assets will go. I would also take a look at your healthcare directive. Make sure that it’s the person you want making your health decisions. This may be your soon to be former spouse, but it may not. So, you definitely want those to reflect your current wishes. I would also include your durable powers of attorney. So, to manage sort of financial things if you were incapacitated. That person should also be someone you want now. So don’t make the mistake some folks who do, who are in the midst of a very difficult time in life, to forget about those things that can really help if that situation were to turn worse. 

So, I hope this was helpful for you today. Please like, follow us, and we’ll be back with some more information for you.

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Bridget Mackay

Bridget has been practicing law for over 25 years. After graduating from Santa Clara Law, she spent 10 years as a Deputy District attorney in both Solano and Sonoma Counties. After the birth of her daughter, her priorities changed, and she began a practice in estate planning and Medi-Cal benefits planning. This transition was a natural fit and all her skills of listening, compassion and fearless pursuit on behalf of her clients translated well to this area of law. She lives in Petaluma with her daughter and Australian Shepherd, Joey. Read More!

Latest posts by Bridget Mackay (see all)

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