Update Your Will After Divorce: Why It’s Important
It is important to update your will after divorce because you risk having your assets distributed to your ex-spouse.
A skilled estate planning attorney will explain your rights and ensure your assets pass to whomever you wish upon your death. If you have any questions or need assistance updating your will after a divorce in Savannah, GA, go online or give us a call at 912-355-9109.
Estate plans are put in place to protect assets and loved ones. A considerable change, such as a divorce, affects not only your assets but yourself and your children.
If you and your ex shared a will, making changes after divorce is crucial to ensure your plan functions appropriately. Often, all assets are left to the living partner in wills shared by married people. This is why it is so important to make changes to your will post-divorce. You can either update your will or create a new one altogether.
If you are dealing with a divorce and do not have an estate plan, it is vital that you put agreements into effect to protect yourself, your loved ones, and your financial future.
3 Common Questions About Updating Your Will and Divorce
Let’s take a look at three common questions that you should discuss with your attorney when you update your estate plan after a divorce.
1. How do I update my will?
You can update your will by codicil or by writing an entirely new will. A codicil is an amendment to a previous will. Because there will be many changes to your will resulting from your divorce, the easiest option may be to write a new will.
If you write a new will, you can revoke your old will by physically tearing up the original or listing in the new will that all prior wills are revoked. The newer date on the current will ensures that it supersedes the previous will.
2. Can I change my will before my divorce is final?
Even though you are legally married until a judge signs a divorce decree, that does not mean you can’t change your will or estate plan at any time. The rules vary, and depending on the type of estate plan or will you have, you can make some changes immediately by yourself. For others, you may need to serve notice to your soon-to-be ex and file paperwork with the court before you can make changes.
Note, there are a few actions you cannot take until the divorce is final. An experienced estate planning lawyer will give you more in-depth information and guide you so that you can make a well-informed choice.
3. Can my ex challenge my will?
Yes. An ex-spouse or even ex-de facto partner can challenge the will of a former spouse or partner. Whether the challenge will be successful will depend on the court’s interpretation of a variety of factors. For example, if your ex can show that they are financially dependent on you and that you have left them out of your will, they can make a claim under the Inheritance Act.
Any significant life change, such as marriage, having children, moving out of state, and divorce, are all causes for revising your estate plan.
Consult Your Trusted Savannah Will and Probate Lawyer to Update Your Will After a Divorce
Taking the proper actions to revise your estate plan during and after your divorce can provide financial protection for yourself and your heirs while eliminating unnecessary complications. Don’t trust that state law will back up your wishes in the event of your untimely death. If you don’t want your assets transferred to your ex-spouse, be sure to put it in writing.
Contact your Savannah estate planning attorney if you have any questions about or need help updating your will before, during, or after a divorce.