Tuesday, August 21, 2012

Basic Estate Planning After Divorce

Recently, cases have been issued by the United States Supreme Court and the Virginia appellate courts addressing what happens when the parties’ divorce, a court order or agreement does not require the ex-spouse to be maintained as a beneciary of life insurance or retirement, but alas the spouse dies without changing his/her beneficiary from the ex-spouse.

It is important after a divorce to take steps to protect yourself in the event of your death.  Some steps include but are not limited to: (1) make sure your will is updated; (2) determine who you want to make health decisions and other decisions for you and review your advanced health care  directive and power of attorney accordingly; (3) update your HIPPA forms with your providers; (4) be sure all beneficiary designations and POD accounts have been changed.