Estate planning can be a complicated matter when it comes to working around divorce and remarriage, as some of our readers may know personally. Obviously, those who are divorce and those preparing for remarriage should always go back over their estate planning documents and make any necessary changes to keep things updated.
This is especially important when there are martial agreements involved. More and more people nowadays are using prenuptial agreements as part of their estate planning, and it is important to ensure that there are no conflicts between these various documents.
On the estate planning side of things, there is the will, beneficiary designations, trusts, guardianship selections, power of attorney appointments, among other documents. When it comes to matters related to property distribution at one’s death, one needs to come up with a plan that is laid out consistently between all the various documents. One also needs to keep these documents updated to reflect significant changes, such as divorce and remarriage.
Prenuptial agreements, for their part, are another potential document to add to the mix. If one is marrying again after having started a family, one may wish to provide for one’s already existing children in the prenuptial agreement. One is free to provide for future children in one’s estate planning documents, or vice versa. Whatever plan one comes up with, the most important thing is to be consistent and clear with the terms, and be aware of any blind spots in the plan.
When dealing with these matters, it is critical to work with an experienced estate planning attorney who understands how to carefully draft and coordinate the various documents. Making sure things are done right helps to reduce the possibility of legal battles later on.