Divorce marks the end of one chapter and the beginning of another. While it’s often an emotional and complex process, it also presents an important legal and financial opportunity — one that many people overlook: revisiting and updating your estate plan.

In fact, your divorce decree is often the first essential step in creating or modifying an estate plan that protects your wishes, your loved ones, and your future.

Why Your Divorce Decree Matters

Your divorce decree is a legally binding document that outlines your financial responsibilities, division of assets, and, often, child custody arrangements. These rulings have a direct impact on your estate plan — especially if your ex-spouse was previously named as a:

• Beneficiary in your will or trust

• Agent under a power of attorney

• Decision-maker in a healthcare directive

• Beneficiary of life insurance or retirement accounts

Without making updates, your ex could still inherit assets or have legal authority you no longer intend.

Key Estate Planning Actions Post-Divorce

Once your divorce is finalized, here are critical estate planning steps to take:

1. Update Your Will or Trust

Remove your ex-spouse from any roles or inheritance provisions, and consider new beneficiaries — such as children, family members, or charitable organizations.

2. Review Beneficiary Designations

Update retirement accounts, life insurance policies, and payable-on-death (POD) designations to reflect your new wishes. These assets pass outside of a will and must be changed directly with the institution.

3. Reassign Powers of Attorney

If your ex was listed as your financial or medical power of attorney, name someone new whom you trust to act on your behalf if needed.

4. Plan for Minor Children

If you have children, consider creating or updating a trust to manage assets for their benefit. You may also want to name a guardian, especially if one parent is no longer in the picture.

Estate Planning Is Not One-and-Done

Your life changes — your estate plan should too. Divorce is a major life event that demands attention to your legal documents. Making these updates now ensures your wishes are honored and your loved ones are protected.

Ready to Take the Next Step?

At Davis Schilken, PC, we help individuals take control of their future with clarity and compassion. If you’ve recently finalized your divorce, or are in the process, we’re here to guide you through the estate planning steps that follow.

📞 Schedule a no-obligation consultation today to get started (303)670-9855.