If your will names your former spouse as a beneficiary or executor, you should consider revising your will so you can ask someone else to be in that role in place of your ex to ensure your assets are distributed according to your new wishes. Texas law may automatically remove an ex-spouse from these roles, but it is best to formally update the document to indicate who your current choices are for those legal questions and necessary roles, avoid any confusion, and attempt to avoid potential legal challenges.

Additionally, if you have children, you may want to designate a new guardian or trustee to oversee their inheritance, or perhaps your children have reached the age where you may consider them for certain roles in your estate plan.

Many assets, such as life insurance policies, retirement accounts, and payable-on-death accounts, pass directly to named beneficiaries outside of your will. Be sure to update these designations so they align with your post-divorce estate plan. Neglecting to change these can result in your ex-spouse receiving financial benefits that no longer reflect your intentions.  An experienced estate planning attorney will discuss specific details regarding this area of concern with you further in a consultation.

If your ex-spouse is named as a power of attorney, an estate planning attorney can discuss with you the options available to revoke and update these documents and others including a Directive to Physicians to appoint a trusted individual who will act in your best interests. This ensures that your healthcare and other decisions will be made by someone who truly has your best interests in mind, should you become incapacitated in some manner.

If you have minor children, you may want to create or update a trust to manage their inheritance and appoint a trustee to oversee assets until they reach adulthood. A trust can provide specific guidelines for how and when assets are distributed, ensuring that your children are financially secure while preventing unnecessary complications or mismanagement.

If you have minor children, you should consider making guardianship designations and review your guardianship designations in case the other parent is unable to care for your children. If you don’t have a guardian designated, having a designated guardian in place will provide peace of mind knowing that your children will be taken care of by someone you trust in unforeseen circumstances.

After divorce you may have questions about how to make sure that your  property ownership information and title documents reflect the terms of your divorce settlement.  Your estate planning attorney can discuss that information with you.  The answer to these questions may require additional information and the working with additional professionals; however, an estate planning attorney can discuss the details of your property and your choices in estate planning with you. Updating addresses and other details related to real estate can help prevent future disputes and ensure that ownership is properly documented.

In today’s digital age, many financial and personal asset accounts exist online. Our estate planning attorney can help you review and update the access (usernames and passwords) and beneficiaries of financial institutions, bank accounts, social media profiles, cryptocurrency holdings, streaming services, and other digital assets. Additionally, our estate planning lawyer can help you plan for a time when others may need to access or close the accounts in the future. Setting clear directives for these accounts can prevent unauthorized access and ensure they are managed according to your wishes.

If you own a business, revisit your business succession plan to reflect your post-divorce status. If you don’t have a succession plan, consulting with our Peace & Associates estate planning attorney can discuss this further with you. You may review any agreements, ownership structures, or designated successors and consider whether they are aligned with your new financial and personal circumstances, decisions, and post-divorce goals.

Using an Attorney for Post-Divorce Estate Planning

Texas laws regarding estate planning, probate, and divorce can be complex. Working with an experienced Texas estate planning attorney ensures that your plan and wishes are contained in an estate plan that complies with legal requirements and effectively protects your interests.  At Peace & Associates, we have experience in Texas estate planning and Texas family law and divorce.  A local Denton Count estate planning attorney can help identify potential pitfalls and create a strategy that provides long-term security for you and your loved ones.

At Peace & Associates, our experienced estate planning attorney will guide you through the post-divorce estate planning process, help you secure your financial future, and ensure your wishes are honored. Our personalized approach allows us to address your unique needs and provide tailored solutions to fit your situation. Whether you need to draft new documents, update existing ones, or establish a comprehensive trust, we are here to assist you.

Contact Peace & Associates in Flower Mound today to schedule a consultation with our Denton County experienced estate planning attorney and take control of your estate plan. Planning for the future after divorce is one of the most important steps you can take to protect yourself and your family. Let us help you navigate the process with confidence and peace of mind.

Our office is convenient to Corinth, Lewisville, Denton, Highland Village, Flower Mound, Lantana, Argyle, and Carrollton.  Please call to set an appointment to meet with one of our experienced family law attorneys at 940-591-6006.