Divorce is incredibly stressful and challenging, and it can be hard to think about estate planning during such a challenging time. However, it’s important to remember that updating your estate plan after a divorce is essential to ensure that your wishes are carried out the way you want, even after this significant life change.
Serving Henderson and Las Vegas, Ford & Friedman can help you create or alter a comprehensive estate plan after a divorce that will protect you and your assets.
What Is an Estate Plan?
Estate planning is a legal process that involves setting up documents and procedures that will ensure your wishes are carried out regarding your assets, debts, and other financial matters in the event of your death or incapacity. Updating these documents is especially important after divorce because it ensures that your wishes are fulfilled, regardless of any changes to your marital status.What Should Be Included in an Estate Plan?
An estate plan may include the following:- A will: A will is a legal document that outlines your wishes regarding the distribution of your assets after your death. It should include who will receive your assets, such as family members or charities, and how they will be distributed.
- An advanced directive: An advanced notice is a document that outlines your wishes regarding medical decisions in the event of your incapacitation. It should include who will make medical decisions on your behalf, such as a spouse or family member.
- Power of attorney: A power of attorney is a document that grants someone the authority to make decisions on your behalf, such as financial decisions or legal decisions. It should include who will be given this authority, such as a spouse or family member.
- Trusts: Trusts are legal documents allowing you to control how your assets are distributed after death. It should include who will receive your assets, such as family members or charities, and how they will be distributed.
Why Should I Create an Estate Plan After a Divorce?
Altering or creating an estate plan after a divorce is essential for a number of reasons.
- First, it ensures that your wishes are carried out in the event of your death or incapacity.
- Second, it ensures that your assets are distributed according to your wishes, regardless of any changes to your marital status.
- Third, it can help protect your assets from creditors and other claims.
- Finally, it can help to provide financial security for your family in the event of your death or incapacitation.
Where Can I Get Help with Estate Planning After a Divorce in Henderson, NV?
Ford & Friedman is a Henderson law firm that can help with estate planning after a divorce. Our team of experienced attorneys can help you create a comprehensive estate plan that will protect you and your assets. We can help you create a will, an advanced directive, a power of attorney, trusts, and life insurance, and we can provide advice and guidance on the best plan for your unique situation.
At Ford & Friedman, we understand that estate planning after a divorce can be daunting, and we are committed to helping you create a comprehensive plan that meets your needs.
Contact us today to learn more about our estate planning services and to get started on creating or altering your estate plan after a divorce.