Protect Yourself After Divorce UPDATE YOUR ESTATE PLAN AFTER YOUR SPLIT IS FINAL Many components to nullifying a marriage can make the divorce process much longer than you would like it to be. However, there is one must-do step that will ensure you start this next chapter prepared and protected. You have to update your estate plan (or create one). Estate planning is one of the easiest ways to ensure you protect your family and your legacy, and divorce changes many of the plans you may have had in place.
Breakfast Sweet Potatoes
Here’s what you need to do when it comes to estate planning after the divorce is final.
Share the agreement. Once your ex-spouse and you agree to terms, simply share the document(s) with your estate planning attorney. As law experts, they will be able to determine your next steps to update your plans. This takes the guesswork out of this process for you. (For reference, we manage estate planning and divorce at Douglass & Runger, making this process that much easier.) Consider new key players. Your spouse was likely listed as the beneficiary for your assets, and they were also very likely given the power to make financial and medical decisions if you could not do so and had previously executed Durable Powers of Attorney. These beneficiary designations on your financial accounts should change immediately, and your Powers of Attorney should be updated as well, unless you and your ex have an agreement as part of your divorce indicating otherwise. When determining who you would nominate under any Power of Attorney to act on your behalf, be sure to consider people who are responsible and whom you trust. These could be neighbors, cousins, siblings, children, or even parents. Remember, it’s not about whom you like best; it’s about choosing someone you believe will do a good job. Reconsider plans for your wealth. When you are married, you share a lot of your wealth with your spouse. However, now that you’re divorced, you have the opportunity to share your wealth however you want! This is exciting. You can make a donation to your favorite charity, set up trusts for your children, or establish plans you didn’t think were possible when you were married. Divorce can be an opportunity! Whether you’re seeking help with your divorce or estate planning, Douglass & Runger’s experts can help. Call us today to learn more and visit DouglassRunger.com to explore all our legal services.
Inspired by AmbitiousKitchen.com
Finish the end of sweet potato season strong with this must- try breakfast recipe!
INGREDIENTS
• 2 medium sweet potatoes • 2 tbsp of your preferred nut butter
• 1 banana, sliced • 2 tsp chia seeds • Cinnamon and salt to taste
DIRECTIONS
1. Preheat the oven to 375 F and cover a medium baking sheet with parchment paper or aluminum foil. 2. Poke holes in the sweet potatoes and bake on the prepared sheet for 45–60 minutes. 3. Once cooled, split the sweet potatoes down the middle and top with nut butter, banana, chia seeds, cinnamon, and salt. INSPIRATION “The longer we dwell on our misfortunes, the greater is their power to harm us.” –Voltaire
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