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Home / Uncategorized / Your Ex-spouse May Get Most of Your Assets

Your Ex-spouse May Get Most of Your Assets

May 11, 2023 by Brandon McGee

Nowadays, divorce is a common occurrence. In 2020, the National Center for Health Statistics reported 2.1 divorces per 1,000 in Texas.

If you have gone through a divorce and remarried, it is crucial to update your estate planning documents to reflect your changed circumstances. Failure to do so can lead to a nightmare scenario for your family in case of an unexpected accident or illness.

ex-spouse

For example, suppose you become incapacitated, and your ex-spouse is listed as your agent under your health care power of attorney. In that case, they could make decisions about your health care, causing emotional distress to your family. Additionally, you have not updated the beneficiary designation of your 401(k) plan, and it still lists your ex-spouse. In that case, the assets will go to your ex-spouse, not to your current spouse or children.

To avoid such scenarios, updating your estate planning documents after a divorce is crucial. A qualified estate planning attorney can help you revise your estate plan and remove your ex-spouse as a beneficiary, trustee, or agent. This simple step can protect your family’s emotional and financial well-being and give you peace of mind knowing that your assets will go to the right people in case of any unforeseen events.

Compliments of the McGee Law Firm, Attorney Brandon McGee

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Brandon McGee
Brandon McGee
Brandon McGee enjoys a successful law practice focusing on estate planning, elder law, Medicaid preplanning and crisis planning, and probate. Brandon and his team combine legal skills with compassion and understanding to develop estate plans that are personalized to the needs of each of their clients.
Brandon McGee
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Filed Under: Estate Planning, Retirement planning, Uncategorized

About Brandon McGee

Brandon McGee enjoys a successful law practice focusing on estate planning, elder law, Medicaid preplanning and crisis planning, and probate. Brandon and his team combine legal skills with compassion and understanding to develop estate plans that are personalized to the needs of each of their clients.

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TESTIMONIALS

Client Review
May 25, 2021
    

Brandon McGee is knowledgeable, experienced and professional regarding Estate Planning. The entire process of multiple meetings to establish our input, draft and sign documents and fund the Trust were well organized and clearly explained. At completion, we were presented with a very well organized binder with the documents (both paper and electronic) and lists for future action.  In short, we find Brandon McGee and his staff to be competent, professional and friendly. ~ Brian C.

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