Getting Divorced? Your Estate Plan Needs These Four Essential Updates

If you’re in the midst of a divorce, you know what an overwhelming experience it is. Divorce disrupts every facet of life, including your estate plan. Yet, when you’re dealing with emotional and difficult issues involving your kids, your finances, your home, your family and social connections, it’s understandable that updating your estate plan can fall to the bottom of your priority list.

But divorcing couples must keep that estate plan update as a high priority — not once the divorce is final, but as soon as you know a split is coming. Failing to update your plan exposes you to a number of potentially tragic consequences that divorce lawyers often don’t mention. Remember that until your divorce is final, your marriage is legally in full effect.

This means that if you die or become incapacitated while your divorce is ongoing, and you haven’t updated your estate plan, your soon-to-be ex-spouse could have complete control over your life decisions and assets. Given that you’re ending the relationship, you probably wouldn’t want him or her to have that much power. And since we can’t know when tragedy will strike, you have to take action quickly.

While state laws can limit your ability to make certain changes to your estate plan once your divorce has been filed, here are a few of the most important updates you should consider making as soon as divorce is on the horizon.

1. Update your power of attorney documents

If you were to become incapacitated by illness or injury during your divorce, the very person you are paying big money to legally remove from your life would be granted complete authority over all of your legal, financial, and medical decisions. That’s why it’s vital that you update your power of attorney documents as soon as you know divorce is coming. Your estate plan should include both a durable financial power of attorney and a medical power of attorney.

2. Update your beneficiary designations

As soon as you know you are getting divorced, update beneficiary designations for assets that do not pass through a will or trust, such as bank accounts, life insurance policies, and retirement plans. Failing to change your beneficiaries could result in your assets transferring to an ex-spouse or others you no longer have in your life, depending on your current designations.

3. Create a new will

Creating a new will cannot wait until after your divorce. You need a new will as soon as you decide to get divorced because you may not be able to change your will once divorce papers are filed. Most married couples name their spouse as executor of their will and the beneficiary of their estate, so it’s important to name a new person to fill these roles as well.

4. Amend your existing trust or create a new trust

If you have established a revocable living trust, you’ll want to review and update that, too. Like wills, the laws governing if, when, and how you can alter a trust during a divorce can vary, so you should consult us as soon as possible if you are considering divorce. In addition to reconsidering what assets your soon-to-be-ex spouse should receive through the trust, you’ll probably want to replace him or her as successor trustee, if they are so designated.

And if you don’t have a trust in place, you should seriously consider creating one, especially if you have minor children. Trusts provide a wide range of powers and benefits unavailable through a will, and they’re particularly well-suited for blended families. Given the possibility that both you and your spouse will eventually get remarried—and perhaps have more children—trusts are an invaluable way to protect and manage the assets you want your children to inherit.

By using a trust, for example, should you die or become incapacitated while your kids are minors, you can name someone of your choosing to serve as successor trustee to manage their money until they reach adulthood, making it impossible for your ex to meddle with their inheritance.

Beyond this key benefit, trusts afford you several other levels of enhanced protection and control not possible with a will. For this reason, you should at least discuss creating a trust with an experienced estate planning lawyer before ruling out the option entirely.

GET STARTED NOW

It’s vital that you make the time to create or update your estate plan during this trying period in your life. If you or someone you know is facing a divorce, please book a call with our Client Services Coordinator, who can answer your questions and set a time to meet with one of our attorneys immediately.

We’ll help walk you through every step with sensitivity and support.

As a parent, you may have questions about what you really need in place to protect your kids, your family, your assets, and yourself. From guardians and trusts to wills and health care documents, it can be hard to know where to start. Read on for answers to some of the most common estate planning questions we hear from parents.

Question 1: What is an estate plan?

When people hear the word estate, they often imagine mansions or large investments, but your estate is simply everything you own: your home, savings, personal belongings, and, most importantly, the people you want to protect.

Estate planning is about making thoughtful decisions ahead of time. It allows you to decide who would care for your children, who would make financial or medical decisions if you couldn’t, and how you want your assets managed and distributed.

Whether you’re just starting your career, growing your family, or planning for retirement, an estate plan gives you the opportunity to make those decisions yourself rather than leaving them to default state laws.

Question 2: Do I really need an estate plan if I’m young and healthy?

Even if you’re young and healthy, estate planning matters because life can change in an instant.

With a plan, you name guardians and decision-makers. Without one, many of those decisions may be left to the court or determined by state law. For example, if both parents are unable to care for their children and no guardian has been named, a court will appoint one.

A thoughtful plan can protect your family’s future, provide guidance, and help ensure your children’s inheritance is handled the way you intend.

Online forms and AI tools can be useful for general education, but they can’t provide legal advice or tailor a plan to your needs. An experienced estate planning attorney can help create a plan that’s customized, complies with state law, and is designed to hold up legally when your family needs it most.

Question 3: What documents are included in an estate plan?

A comprehensive estate plan includes several key documents that work together to protect your family.

A Will lets you name guardians for your minor children and direct how your assets are distributed.

A Revocable Living Trust can help avoid probate and provide more control over how assets are managed and distributed.

A Durable Financial Power of Attorney allows someone you trust to manage your financial affairs if you become incapacitated.

A Health Care Proxy allows you to appoint someone to make medical decisions on your behalf if you’re unable to do so.

A HIPAA Authorization gives the people you choose permission to access your medical information when needed.

The right combination of documents depends on your stage of life and your family’s unique needs.

Question 4: Do I need a will, a trust, or both?

This is one of the most common questions parents ask, and the answer depends on your goals.

A will allows you to name guardians for your minor children and direct how your assets are distributed.

A revocable living trust is often used alongside a will. It can help avoid probate, provide privacy, and give you more flexibility in how assets are managed and distributed.

For parents of young children, one of the biggest advantages of a trust is the control it provides. A trust lets you decide when and how your children receive their inheritance rather than having assets become available when they reach legal adulthood. Without that structure, significant assets like a home or investments may become available at a much younger age than most parents feel is wise. A trust also allows you to appoint someone you trust to manage those assets until your children reach the ages or milestones you choose.

For many families, the right solution includes both a will and a trust. It depends on factors like home ownership, the age of your children, and whether you want to avoid probate or set conditions for an inheritance.

Often, the better question isn’t “Do I need a will or a trust?” but “What do I want my plan to accomplish for my family?”

Question 5: How much does estate planning cost?

The cost of estate planning can vary widely depending on your family’s unique situation, goals, and the complexity of the plan.

The most important question isn’t simply what it costs, but what level of planning will best protect your family.

Once an attorney understands your goals and your situation, they can recommend the right approach and explain the fees up front.

Question 6: What happens if I don’t have an estate plan?

There is always a plan. It just may not be the one you would have chosen.

If you don’t create an estate plan, Massachusetts law provides a default plan for many important decisions. Those laws are meant to provide a framework, but they can’t account for your family’s unique needs or your preferences.

Without a plan, a court may need to appoint guardians for your minor children. Assets will be distributed according to state law, and your loved ones may experience unnecessary delays and additional stress.

Creating a plan allows you, not the state, to make those important decisions and provides clear guidance when your family needs it most.

Question 7: How do I choose a guardian for my children?

Choosing a guardian is one of the most important decisions parents make, and it can also be one of the toughest.

Many families struggle to find the one “perfect” person. At our firm, we help parents think through the decision and identify the best fit for their family. We’ll discuss questions you may not have considered, explore different scenarios, and help you make a decision that reflects your values and gives you confidence in your plan.

Thoughtful estate planning also allows you to clearly document your wishes. In some situations, parents have strong feelings about people they do not want serving as guardians. Clearly expressing those preferences in your legal plan can provide important guidance and help reduce uncertainty if difficult decisions ever need to be made.

Remember, naming a guardian isn’t permanent. As your children grow and circumstances change, your plan can be updated to reflect your family’s evolving needs.

Question 8: What happens if I don’t name a guardian?

If both parents are unable to care for their children and no guardian has been named, a court will appoint someone.

The court’s responsibility is to act in the child’s best interests, but without your guidance, the court could appoint someone you would not have chosen.

By naming a guardian, you provide the court with important guidance about who you believe is best suited to raise your children.

Question 9: When should I update my estate plan?

Estate planning isn’t something you do once and forget. Your plan should grow and change as your life does.

It’s a good idea to review your estate plan after major life events, including:

Getting married or divorced
The birth or adoption of a child
When your children become legal adults
Buying or selling a home
Receiving a significant inheritance
Starting or selling a business
A significant change in your financial situation
The death or incapacity of someone named in your plan, such as a guardian, trustee, executor, or agent under your power of attorney
Moving to another state
If your child is diagnosed with special needs, or if their diagnosis, abilities, level of independence, or long-term care needs change over time
Every three to five years, even if nothing major has changed

At our firm, estate planning is an ongoing relationship, not a one-time transaction. As your family grows and life changes, we’ll help you review and update your plan so it continues to reflect your wishes and protect the people you love.

Question 10: Can I create my estate plan using AI or online forms?

AI tools and online forms can be helpful for learning basic concepts or organizing your thoughts, but they can’t give legal advice or evaluate your family’s unique situation.

An estate plan is more than a set of forms. It’s a coordinated legal strategy designed around your specific goals and family dynamics.

If key issues aren’t addressed, certain decisions may default to state law, which can lead to unintended results.

Working with a qualified estate planning attorney who works with young families every day helps ensure your plan is tailored to your family’s needs and wishes. Rather than a one-time transaction, you’ll have a trusted advisor who can help keep your plan current as life changes.

Question 11: How do I get started?

Getting started is often easier than people expect.

The first step is scheduling a complimentary 15-minute call with our Client Services Coordinator.

You don’t need to have all the answers before you reach out. You don’t need to know exactly who you’d choose as guardians or what documents you need. That’s what we’re here to help with.

During that call, we’ll learn a little about your family, answer your initial questions, explain what to expect, and help determine the next best step.

If it makes sense to move forward, we’ll schedule a planning session with one of our attorneys, where we’ll talk through your goals, explain your options in plain language, and help you feel confident about the path forward.

Our goal is to make estate planning approachable, understandable, and personal so you can move forward with confidence, knowing your family is protected.

Question 12: What can I expect during my planning session?

Your planning session is a conversation, not a presentation.

We’ll take time to get to know you, listen to your goals, and answer your questions. We’ll walk you through decisions you may not have thought about, such as guardianship and how and when assets should pass to your children.

By the end of your planning session, you’ll have a clear understanding of your options, what we recommend, why we recommend it, and what the next steps look like.

Our goal isn’t simply to create legal documents. It’s to help you build a thoughtful estate plan that reflects your wishes and protects the people you love.

Question 13: How long will my estate plan take to complete?

Creating your estate plan begins with your planning session, and we ask clients to reserve about 90 minutes so we can truly understand your family and your goals.

During the first part of your planning session, we’ll get to know you, answer your questions, explore your wishes, and discuss what’s most important to you. We’ll explain your options in plain language and recommend the level of planning that’s right for your family’s unique situation.

If you decide to move forward with our firm, the second part of the planning session is spent beginning to design your estate plan. Together, we’ll map out the important decisions and gather the information needed to prepare documents that reflect your wishes and protect your family.

It takes about four weeks from your planning session to signing your estate planning documents. A lot will depend on how quickly you’re able to finalize your decisions. It’s important to remember that nothing is legal until it is signed, so we move you to your signing meeting as quickly as possible.

We’ll be with you every step of the way, keeping you informed so you’ll always know what to expect.

Ready to protect your family? Schedule a complimentary 15-minute call with our Client Services Coordinator to get started. Let’s chat.

The Parents Estate Planning Law Firm, PC

At The Parents Estate Planning Law Firm, we answer your questions at your convenience; we stay in frequent communication; and we meet to discuss changes in life circumstances and in the law to ensure that your assets are protected.