The wills after divorce can be like untangling a messy ball of yarn. Legal documents, by nature, don’t adjust themselves to your changing life’s circumstances. Picture this: you and your ex have just signed on the dotted line, the marriage is officially done and dusted. But what about that will you both drafted years ago? It’s not something people usually think of in the throes of reworking their lives post-divorce.
First things first, your will remains valid after a divorce – but there’s a twist. You don’t want your ex collecting those sentimental family heirlooms or handling your financial windfall, right? So the ex-spouse is typically treated as if they predeceased you. This means in many places, any bequests made to them become null and void. Imagine leaving that diamond ring to a ghost!
Chat with your lawyer pronto. Your old will might need a makeover. When tweaking your will, think fresh; it’s the perfect opportunity to reconsider how you divvy up your estate. You’ve got new priorities and that’s perfectly normal. Think of it as a life audit.
Don’t forget those stepkids or second spouses. You might get remarried or have new additions to your family. Ensure they’re properly acknowledged in your will. There’s nothing worse than leaving loved ones in a lurch because the paperwork wasn’t up-to-date.
And here’s a bit of a bombshell – joint wills are generally a bad idea. They might seem romantic at the time, but they can cause a heap of trouble later. It’s like trying to share a single umbrella during a downpour. Better to have your own will sorted independently.
Don’t overlook beneficiary designations on life insurance, retirement accounts, or even payable-on-death bank accounts. They aren’t covered by your will and necessitate direct updates. An old flame shouldn’t swoop in and claim these after you’re long gone!
