When you first created your Florida estate plan, you may have given your husband or wife one or more important roles within it. Many people consider their spouses first when it comes to giving someone power of attorney over their financial or medical affairs. If you count yourself among them, you may want to make some changes to your plan if you divorce.
According to Money, it may serve you well to take another look at the following parts of your estate plan when you and your spouse split up.
Your beneficiary designations
You may want to revisit the beneficiary designations you made in your will and any trusts you may have. You may not have the ability to change everything. However, where possible, you may want to adjust how much, if anything, you plan to leave your former spouse. If you have life insurance or retirement policies that name your former partner as the main beneficiary, you may also want to review these policies and accounts and make changes where possible that reflect your new situation.
Your health care directives
If your marriage ended on a negative note, you may not want your ex to have control over what happens to you medically in the event you suffer incapacitation. You may want to consider updating your advance health care directive or directives to give someone else this responsibility after a breakup.
When it comes to updating your estate plan, timing matters. While it makes sense to make some of these changes before your divorce becomes final, you may need to wait until after your split to make other necessary changes.
