(1) If your original plan was to leave everything to your now ex-spouse and then to your children, your ex-spouse may still get ev­erything if you do not modify your estate plans following divorce.

(2) You also do not want to leave your children in a position to be disinherited should your ex-spouse re-marry following the divorce.

Divorce does not need to cause future legal problems.

Update your Beneficiary Designations 

Following a divorce, the items below should be amended unless you want to leave everything to your ex-spouse:

1. Beneficiary designations for the following financial instruments:
   •  Employer retirement plans
   •  Individual Retirement Accounts (IRA)
   •  Life insurance
   •  Annuities
   •  Health savings accounts
2. Transfer on Death (TOD) investment accounts
3. Payable on Death (POD) bank accounts

Because assets pass to a named beneficiary pass under operation of contract, this designation supersedes the your will, should you have one. If no changes are made, your ex-spouse who was originally designated as the beneficiary will be entitled to the benefit, despite the existence of a will or trust designating otherwise. Beneficiary designation will always trump a will or intestacy laws.

Should you want to speak with an estate family attorney to discuss your beneficiary designations and determine a personalize estate plan for your life after divorce, contact