Post-Divorce Planning
Post-Divorce Estate Planning in Washington
Divorce changes everything, including who makes decisions for you and who inherits from you. Time to update your plan.
Why You Need to Update After Divorce
Divorce does not automatically remove your ex-spouse from all of your estate planning documents. While Washington law does revoke certain provisions in a will that benefit an ex-spouse after divorce, other documents, such as powers of attorney, advance directives, and beneficiary designations, may not update automatically. If you do not take action, your ex-spouse could still have authority over your finances, your health care decisions, or your assets.
What Needs to Change
- Your will, to remove ex-spouse provisions and update distributions
- Financial Power of Attorney, to appoint someone new to manage your finances
- Medical Power of Attorney, to choose a new health care decision-maker
- Living Will and Advance Directive, to confirm or update your end-of-life wishes
- Beneficiary designations on life insurance, retirement accounts and bank accounts
- Trust provisions, if you have an existing trust it likely needs revision
- Guardian nominations, to confirm or change guardians for your children
Guardian and Custody Considerations
If you have children, your estate plan should reflect your current custody arrangement and your wishes for guardianship if something happens to both parents. If your ex-spouse is a fit parent, they typically have priority for custody, but your will should still name a guardian in case both parents pass away. We will also discuss how to structure inheritance for your children to keep it separate from your ex-spouse's control.
Beneficiary Designations: The Most Overlooked Step
Even if you update your will, beneficiary designations on life insurance, retirement accounts such as a 401k or IRA, and bank accounts override your will. If your ex-spouse is still listed as a beneficiary on those accounts, they will receive those assets regardless of what your will says. This is one of the most commonly overlooked steps after divorce, and one of the most important.
Starting Fresh
Post-divorce estate planning is not just about removing an ex-spouse. It is an opportunity to rebuild your plan around your new life. Who do you want making decisions for you? Who should raise your children if something happens? How do you want your assets distributed? We will build a plan that reflects where you are now and where you are headed.
Frequently Asked Questions
Not entirely. Washington law revokes provisions in your will that benefit your ex-spouse, but the rest of your will remains in effect. If your entire plan revolved around your ex, the remaining provisions may not reflect your current wishes.
Beneficiary designations and joint account holders are not affected by divorce unless you change them. Review every account and update beneficiaries to match your current wishes.
Yes. If your ex-spouse is named as your agent on a financial or medical power of attorney, you should revoke that document and execute a new one naming someone you currently trust.
As soon as possible after the divorce is final. Some changes, such as updating beneficiary designations, should happen immediately. Others, like drafting a new will or trust, can happen within the first few months.
Potentially, if you leave assets to your children outright and your ex has custody. A minor's trust can protect your children's inheritance and keep it under the control of a trustee you choose, separate from your ex-spouse.
Rebuild Your Plan Around Your New Life
Book a virtual consultation to update your documents and start fresh.
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