Comments on 10 Times to Review Your Estate PlanTypePad2010-12-09T16:46:28ZNAhttps://www.freemoneyfinance.com/tag:typepad.com,2003:https://www.freemoneyfinance.com/2010/12/10-times-to-review-your-estate-plan/comments/atom.xml/KH commented on '10 Times to Review Your Estate Plan'tag:typepad.com,2003:6a00d83451bcbd69e20148c733f127970c2010-12-31T17:52:13Z2010-12-31T17:52:13ZKHMy divorce lawyer sent me directly to an estate lawyer after my divorce was finalized. Obviously to make a will,...<p>My divorce lawyer sent me directly to an estate lawyer after my divorce was finalized. Obviously to make a will, but also because the divorce decree which stipulated various types of support for the children that I had to set up legally. </p>
<p>For example, the divorce decree directed me to have x amount of life insurance that would go to the kids if I died, but the estate plan allowed me to say that I wanted to put it into a trust and depending on the kids' ages when I died, I chose the family members who would be in charge of the money (otherwise it all would have gone to my ex if the kids were minors).</p>
<p>The other thing included in my estate plan was a living will--very important if you don't want to live on as a vegetable (or if you do).</p>Everyday Tips commented on '10 Times to Review Your Estate Plan'tag:typepad.com,2003:6a00d83451bcbd69e20148c733d2cb970c2010-12-31T17:27:10Z2010-12-31T17:27:10ZEveryday Tipshttp://everydaytipsandthoughts.comWe have a will (for assigning guardianship mainly) and a trust. Maybe the divorce part also applied to guardianship. For...<p>We have a will (for assigning guardianship mainly) and a trust.</p>
<p>Maybe the divorce part also applied to guardianship. For instance, if I name my brother and his wife guardians of my kids and they divorce, I need to modify my will to dump the sister in law? Or, I leave money and name my son and daughter in law in the will and they divorce? I don't know, maybe if you are over-specific in your plans, you need to modify your will to cut out those that are no longer in the family?</p>