When you make a Last Will and Testament, you are legally supposed to be of sound mind. While you may not feel particularly sane during your divorce, it is still important to think about estate issues during this stressful time. The attorneys at the Men’s Legal Center can help you attend to important estate issues before, during and after your divorce so that the rights of your family and your children are protected.
There are plenty of stories of men who died while going through a divorce only to have their former spouses abscond with all of their assets, leaving their children destitute. In these cases, poor estate planning is usually to blame. While your financial situation may be tenuous during a divorce, there are plenty of things you can do to protect your children, your parents, your siblings and even any future partners you may have by protecting your assets with a strong estate plan.
- Think in the long term. While your short term goal is to protect assets during your divorce, what is your long-term plan for those assets? If you plan to use them as the foundation for retirement, it is much more important to protect them during the divorce than if they are disposable income. Protecting long-term assets should be the primary focus of your estate plan.
- Realize your future is not set in stone. You may have more children, especially if you remarry, so do not assume that what is today is what will always be. Be flexible in planning the future of your estate’s growth so that any children you have will be provided for, as well as any future spouses. Some second marriages last longer than the first, so do not assume that this marriage will be your last.
- Think about your children’s spouses. Your children may be young, but they will most likely grow up, marry and have children of their own. Is your estate plan designed to protect their assets in the event of a divorce? If not, think about ways you could help your children protect assets through a trust or some other vehicle.
The Men’s Legal Center is ready to work with you to help you resolve all of your estate needs. Contact us today to find out how creating a strong will can help you protect your family’s interests.