When people undergo a divorce, changes often are needed across multiple aspects of their lives. Estate planning is one of the things people should consider during and after a marriage ends. Michigan individuals should look into their estate plans during all major life changes, as many issues related to wills and wealth transition can be influenced by family law.
One of the first things people should look into during or after a divorce is a health care proxy and power of attorney. After ending a marriage most people choose to change the power of attorney from a spouse to another trusted family member. To do this, a person will need to revoke power of attorney from their former spouse and execute a new one.
In general, it is wise to update one’s will after a divorce. Some people will still choose to name their former spouse as a beneficiary, especially when there is a legal requirement to do so. Others will try to disinherit a spouse, which may result in a contested will. This is a decision that can be made in collaboration with an attorney.
Depending on the state and stage of a separation or divorce, Michigan family law may dictate that an estranged spouse is still entitled to inheritance. A family law attorney can help those undergoing a divorce understand what changes can and should be made. Certain changes may only be possible after a divorce is finalized, so it is a good idea to revisit a will both during and after a divorce.