Navigating Divorce? Now Is a Good Time to Talk to Your Financial Advisor and Estate Planner | Monroe Township - Middlesex County
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Navigating Divorce? Now Is a Good Time to Talk to Your Financial Advisor and Estate Planner

August 24, 2020

Filed under: Divorce — Laura Pennington @ 1:14 pm

Each person in a couple needs a team to help them navigate the tricky waters of divorce. The financial breakup and dissolution of your marriage has important implications for everything from retirement to the beneficiary designation forms you filed with your life insurance company.

And there’s no doubt that you are likely overwhelmed with all of the emotional, financial and physical aspects of parting ways to begin with so it can be hard to keep track of all of these details and ensure they are dealt with properly. Advising clients through major life changes is a core component of an estate planning attorney’s job.

A good rule to follow is to remain impartial and open when discussing estate planning matters with your attorney. Some of the most common things you might wish to bring up with your financial professionals and estate planning lawyer include:

  • An inventory of all the assets that are owned individually or jointly by the couple.
  • A listing of expenses including how those expenses might be adjusted for each spouse after the divorce.
  • Information about any long term care life or disability policies currently in place.
  • Reviews of any prenuptial agreement and how this could impact the division of assets in the divorce.

Your estate planning attorney can help you to look at the different documents that may need to be updated after you have gone through the divorce process. Knowing that you have another party to guide you through this difficult situation can help to make this complicated aspect of your life somewhat easier.

Need support from a NJ estate planning attorney? Divorce calls upon you to update your documents and ensure that everything is aligned with your new plans.

 

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