A divorce can throw a lot or problems into the family’s future plans.
Marriages are wonderful but it might be wise for parents and grandparents to consider what might happen to the estate plan, if the honeymoon ends way too soon, according to the Wills, Trusts & Estate Prof Blog in “They’re Engaged!…Top 5 Financial Considerations Before the Wedding.”
According to the blog, you should review your estate plan and any gifting plans to protect your generosity. Make sure that the divorce of your child or grandchild does not result in the assets you have given, end up in the hands of an ex-spouse.
You do not have to make such arrangements, but most people prefer it that way.
To do this, you are going to need to sit down with your estate planning attorney, since you will need expertise with someone who knows estate law well.
You may also need to get some advice from a divorce lawyer in the state where your child or grandchild lives, in order to understand marital property laws and divorce in that state. Your estate planning attorney can also look those laws up and get advice as needed.
A marriage is a good thing to celebrate but it might be wise to consider the consequences to the estate plan, if things turn out badly.
Do You Need To Speak With An Attorney About Estate Planning?
If you need to speak with an experienced estate planning lawyer please contact us online or call us directly at 800.756.5596 to first register for one of our free, informative seminars. Your attendance will qualify you for a special discount for our estate planning services should you decide to make a free appointment at the conclusion of the seminar and choose to proceed with us. We proudly serve clients throughout California with offices in Torrance, Newport Beach, Orange, Woodland Hills and Pasadena.
