If you are in the process of going through a divorce, you are already aware of the plethora of issues that you must negotiate with your spouse. You are likely sick of hearing about the pages-long list of issues, such as allocating your marital property and determining whether or not spousal support is necessary, which all need to be reconciled with your spouse before you can finalize your divorce. With so many other issues at the forefront of your concerns, many people end up forgetting about one very important aspect that should be taken care of during the divorce -- your estate plan. If you ever had a will or you and your spouse ever started to plan for the future, you will want to be sure to update your estate plan accordingly before your divorce is finalized. Here are a few things you should keep in mind about your estate plan when getting a divorce:
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Understand what documents you currently have in place. The first thing you should do is to understand what type of estate plan you have in place already. Every estate plan is different and tailored to each person’s specific needs, so you should familiarize yourself with your current estate plan if you are not familiar with it already. You may already have estate planning documents, such as:
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