When two people get married, there are usually numerous elements of their lives that become intertwined. Any married person who has completed any estate planning knows that many of their assets simply go to the surviving spouse.
However, divorce has ramifications on many different elements of your life, including estate planning. To take that a step further, each state has its own laws. If you get divorced in Texas, here are some things to consider regarding your future estate plan modifications.
Do You Need to Change Your Will if You Get Divorced?
Your Will Remains Valid
Wills and trusts are common estate planning tools. If you created a will when you were married, the act of getting divorced does not invalidate it. In other words, you still have a legal and valid will. But in Texas, there is a significant caveat: your spouse and their relatives are no longer a part of your will even if you included them. So, you may wonder, do you need to change your will if you get divorced?
Whenever you write a will, there is a possibility that the people you give your assets to may pass away before you. This is when you will hear the term “predeceased.” For the purpose of your will, your former spouse (and relatives) will be treated as if they passed away before you. Additionally, these same people will no longer be part of your revocable trust either. Your former spouse’s status as your life insurance beneficiary gets revoked too.
Your Estate Plan Is A Process
Your estate plan should be viewed as an ongoing process. Though most of the work gets done at its inception, you need to modify and adapt it as your life changes. As you have read, divorce directly impacts your estate plan.
When you meet with your attorney, ask him what has changed now that you are no longer married. How do these changes line up with the wishes and intentions you have for your estate? What happens if you get remarried? These are all valid concerns, and they warrant a conversation with your attorney.
Ask Amsberry Law Firm How Divorce Impacts Your Estate Planning
Whether you are ready to create an estate, need to modify an existing one, or simply have more questions regarding estate planning and probate, contact Amsberry Law at (210) 354-2244 to schedule a free phone consultation. Our goal is to ensure you are set up for success over the long term. We look forward to working with you.
Attorney Russell J.G. Amsberry
Attorney Russell J.G. Amsberry founded the Amsberry Law Firm in 1995 with the goal of providing clients with exceptional, focused representation on their issues. His success as a legal advocate has been reflected in the numerous professional honors he has received, such as speaking engagements and inclusion in Scene in SA magazine’s listing of the best lawyers in San Antonio, a Distinguished rating from Martindale-Hubble, and an amazing rating from Avvo. [ Attorney Bio ]
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