The end of a marriage can have an impact on an entire family in many ways. For example, in-laws may no longer see their loved one’s former spouse and kids may spend less time with one of their parents. There are other ways in which filing for a divorce can affect loved ones, however. For example, someone who has a will may need to make a number of revisions to their estate plan after they move on from their spouse. Moreover, it may be necessary to discuss your estate plan with relatives after your divorce.
Sometimes, people need to remove their ex-spouse from their estate plan. For example, they may have given their former spouse the responsibility to manage the estate after they pass away, or they may have allocated significant assets to their ex-spouse and his or her children. In these instances, it may be necessary to find a new executor and change the way in which assets are distributed amongst beneficiaries.
Often, people turn to their family members when it comes to these key estate plan decisions. Some people may choose to name one of their children as the executor of their estate, and there are many ways in which assets can be distributed among loved ones. It may be extremely important to discuss these issues with family members promptly. For example, if you need to find someone to replace the executor of your estate, make sure they know all of the responsibilities they will take on and are prepared.