After Divorce

When you get divorced, the law treats your ex-spouse as if he or she had died at the time of the dissolution. This means there is no need to change your will to eliminate an ex-spouse once the divorce is complete.  However, this provision does not affect bank accounts, brokerage accounts, retirement accounts, life insurance policies and so on.  Therefore, be very careful to to change the beneficiary designation on any asset where your spouse is named.

If you have named your spouse so that the assets will be used for the benefit of your children, there is a much better way of making sure this is accomplished.

Do you have children?