Estate Planning during Divorce

Once you file for divorce, there are Automatic Temporary Restraining Orders that go into effect. These ATROS limit your ability to change beneficiary designations without the consent of your spouse and to fund a trust without consent of your spouse.

During your divorce, you remain married and have all of the benefits provided under the law in the event of death.      

In practicality, what that means is that if you die during the dissolution process, without a written agreement or an estate plan, the assets in your dissolution that were going to be awarded to you, may, through probate, be inherited by your spouse. 

If you would like to change that potential outcome now, here are your options:

No Restrictions

1.     Create, modify, revoke a will – A will distributes your property

2.     Create *but not fund* a trust

 What you can do with notice (do not need consent)?

1.     Revoke a revocable trust

2.     Sever a joint tenancy

 What you can do with written consent?  

1.     Change beneficiary designations on insurance, retirement, etc

2.     Fund a new trust