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Estate planning during your divorce

On Behalf of | Nov 12, 2019 | Divorce

If you and your spouse in Hawaii have decided to get separated or file for divorce, you know that every fabric of your life is about to change. When you are inundated by a seemingly never-ending litany of decisions to make and changes to adjust to, it can be easy to forget about some things if they are not top of mind. An estate plan can well be among the forgotten things during a divorce, but it is very important that you give it some attention at this time.

As explained by Forbes, there will be some elements of your estate plan that you cannot amend or address in any way until your divorce is finalized and you know exactly what assets and debts you are left with. However, there are some things you can take action on as soon as you are separated.

At a minimum, you should create or update a medical power of attorney and a durable power of attorney. These two documents allow you to name the person or persons who you would want to step in and manage your health care and your finances if an emergency occurred and you were not able to address these things yourself. If your current documents list your spouse in these roles, it is easy to see the importance of updating them as soon as possible.

If you would like to learn more about how you can protect yourself and your assets during your divorce and after your divorce, please feel free to visit the estate planning and marital dissolution page of our Hawaii family law and divorce website.

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