WebMay 10, 2024 · Below are 5 tips for estate planning during and after the divorce process. 1. Change Your Beneficiary Designations. As soon as your divorce is completed, you should update the beneficiary designations for assets that do not pass through a will or trust, such as retirement plans and life insurance policies. WebNov 2, 2024 · 1. Estate Planning Is Not All About Tax Planning. A common misbelief is that estate planning is only for the very wealthy and that an estate plan is only created to reduce estate taxes. This is not true. Tax planning is merely one piece of the estate planning process and the estate tax exemption is so high that it is not a concern for …
Divorce: Move Forward With Post-Divorce Transition Tips
WebFeb 9, 2024 · Divorce and Estate Planning in Kansas. While married, you may have come up with an estate plan. That’s wonderful, but you’ll likely want to take a look at it after you get divorced. ... Financial Planning Tips. Whether you’re getting divorce, still married or single-and-loving-it, a financial planning can make sure your finances are ... WebApr 19, 2024 · When it comes to divorce, there are several decisions surrounding retirement savings and withdrawals and estate and tax planning. A client's divorce can disrupt the best-laid estate plans and set in motion two separate retirement strategies. ... Here are expert tips on what to do next. Tony Dong Jan. 24, 2024. scooters cape town
10 Essential Estate Planning Tips Everyone Should Know
Web26 rows · This may sound cliché, but Estate Planning truly is a journey, and not a destination. What I ... If you and your former spouse created an estate plan together during your marriage, then you probably have an idea of what goes into it. Many of the same estate planning components you created during the marriage will have to be updated once you’re divorced. The most important documents to revisit are … See more When you’re going through a divorce, you may feel a sense of urgency to remove your spouse from all parts of your estate plan, but state laws … See more When people think of estate planning, the willis often the first thing they think of, as it should be part of every estate plan. It’s a legal document that allows someone to dictate what they would like to happen to their property and … See more Creating an estate plan may feel overwhelming, and it might seem frustrating to deal with more legal documentsduring or after a divorce. The good news is that updating your estate plan doesn’t have to … See more A trustis an estate-planning tool that’s used to hold property or assets to benefit another party. Trusts are often used as an estate planning tool to pass assets along to beneficiaries. For example, someone’s will might state that … See more WebProbably not entirely, the laws of most states would require a spouse to receive a certain share of the estate and that share cannot be avoided unless the parties have divorced. … scooters capehart