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Updating your estate plan at the end of your marriage

On Behalf of | Sep 2, 2022 | Divorce |

Preparing to go through the end of a marriage can be an intimidating process, and the outcome thereof could prompt a variety of changes in your life. Even if you are eager to move on and enter a new stage in life, you may still have questions about the steps to take to help protect your interests in the process.

One area in which you might experience significant change could involve your wishes and preferences for life ahead, and taking steps to safeguard your future may prove vital. Revisiting and updating your estate plan could help ensure that your strategy for the future remains in line with your current wishes.

Addressing change

The estate planning process may help you plan for a variety of future possibilities, and keeping your plan in line with your preferences could help stave off undesirable results. Some areas in which updates may be necessary might include:

  • Will/trust: Will and trust documents are two common examples of areas in which it might be necessary to update information following a major change in life circumstances, such as divorce.
  • Beneficiary designations: The end of your marriage may also alter your wishes regarding your beneficiary designations, and updating this information may prove vital to preserving your wishes.
  • Representatives: Your estate plan might list your spouse as one of your representatives, and if this is no longer your preference, updating information may help your plan better reflect your needs.
  • Health care directives: Health care directives and life insurance policies are two more areas in which it might be helpful to consider updating information when your life undergoes change.

Seeking guidance on Oregon divorce and estate planning laws and how these might affect your situation could also prove essential to preparing for what comes next.

Your needs and preferences

The end of a marriage is a common example of a change in life circumstances that might prompt a need to review your estate planning goals. While such a process can be somewhat complex in nature, you do not have to face it alone. Seeking advice on your options could help you better prepare to navigate the process. Such a decision may prove integral to helping you prepare to pursue the necessary modifications to help bring your plan in line with your new preferences and needs.

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