28 Dec Estate Planning For Divorced Parents
What should you keep in mind?
Before you get divorced, you need to make sure that you revoke your previous will. Have a new will drafted. This is so imperative.
Estate planning for divorced parents:
- It is essential that you take a look at your estate plan after you have divorced your spouse. See if there are any changes you want to make to your estate plan.
- Make sure that you review your estate plan often, if you have recently gotten divorced.
- Update your estate plan once your divorce is final. This is vital.
Divorced parents, take note of these useful tips when it comes to your estate plan.
What about your children?
Think about the guardianship of your minor children. Which person is going to have the responsibility of looking after your precious children if you pass away or become incapacitated? It is vital for you to think about who is going to be responsible for taking care of your children after you pass away. It is important to note that the surviving parent does automatically become the legal guardian of the minor child.
Estate planning for divorced parents cannot be neglected. You must have an updated estate plan that you are comfortable with, as a divorced parent. Make sure that you have an estate plan that you are happy with, as a divorced parent.
DR MERVIN MESSIAS
JD (Juris Doctor) / BA, LLB (Wits) / TEP (Trust & Estate Practitioner) / MTP (Master Tax Practitioner – S.A)