Your divorce can not only change your family’s situation and your finances, but your estate plan as well. While Georgia laws can provide automatic protections for you upon your divorce, these legal revocations are limited.
Because of this, it is vital to revisit your estate plan with a lawyer and update its details accordingly.
Final will and testament
When your divorce becomes final in Georgia, it creates a legal fiction where your ex-spouse is treated as having predeceased you. This means that if they were meant to inherit your assets or become your executor, your final divorce decree nullifies these terms from your will.
However, this does not mean that the rest of its content are updated as well. To help provide you with peace of mind, it is wise to revoke your document and create a new one.
Living trust
If you own a revocable living trust, you must update its terms and conditions after your divorce. This practice can help ensure that your ex-spouse will not remain as a trustee or a beneficiary of your trust.
By amending your document with a lawyer, you can be certain that it reflects your personal wishes and your new circumstances.
Healthcare directives
While your divorce also ends your ex-spouse’s role as your healthcare agent or power of attorney, you will still need to keep your document’s validity intact by appointing a new person who can replace their role if you become incapacitated because of an accident or a terminal illness.
Your divorce should also reflect your legal documents
Ending your marriage is a liberating experience. However, your new situation also requires a substantial change to your legal documents. By taking your time to reassess your estate plan, you can ensure that it aligns with your current wishes and goals in life.
