Gregg R. Lewis

Trusted Family Law

Services In Columbus

Gregg R. Lewis
Trusted Family Law Services In Columbus

Why is an estate plan necessary for a divorced parent?

| Jul 24, 2018 | Post-divorce Estate Planning |

When you get divorced in Ohio, there are a lot of things you have to think about when it comes to preparing for your new single life. One of those should be an estate plan. The American Bar Association explains that an estate plan can help prepare for unexpected things. Now that you are no longer married, you cannot just rely on your spouse handling your affairs if you were to die. You need to plan ahead and ensure that your assets and your children are protected.

Children are the biggest consideration. Under the law, if you were to die, your ex-spouse would more than likely get custody of the children. However, there are exceptions to this situation, especially if your ex-spouse is unable to care for the children. So, you do need to have some plan for who will care for the children if you are not around.

You also have to think about your assets. You want to ensure that they go to the right people. An estate plan can make that happen. You can designate, for example, that money goes to your children in the event of your death or that they get property you own. Because you are no longer married, your next of kin, which is often a parent or sibling, would be in charge of your assets if you do not have an estate plan and your children are minors. They would be free to do with your assets whatever they wanted.

Planning ahead with proper estate documents will help ensure that your family is cared for when you cannot be there anymore. It is a very good idea to create one or update your existing plan after a divorce to make the needed adjustments. This information is for education and is not legal advice.