Your written will is vital, especially if you have children and other loved ones who are dependent on you for their support. However, if you were recently divorced, it might be time for you to change your will.
While it might seem like a strenuous position to put you in, divorce is sometimes necessary. What most people tend to forget though is that their whole life is going to change. The person you intended to spend the rest of your life with is no more… so it will be time to adjust your life accordingly – beginning with your written will.
When changing your written will, it will be important for you to check the following things:
Change Beneficiaries and Include New Parties
While in a marriage, it was vital for you to know that your significant other was always going to be taken care of no matter what happened to you. Now that your marriage is depleted and the once significant other is now an ex, changing your beneficiary might be ideal.
Avoid putting off your change in will, especially when it comes to your beneficiary. Unexpected circumstances might arise and if you were not prepared for it, your ex will get all of your belongings – especially if you two were not fully divorced.
At such point, you should ensure that you have included everyone in your will. Changing just the beneficiary is not the only precaution you should take – ensuring your children, new significant other, close family-friends and family members are all part of the will is pertinent.
Change Your Ownership in Property
When married, it is more than likely you and your spouse owned a home. While divorcing, you need to know who will be gaining ownership of your property in case of your immediate death.
Since married couples often own a home as “beneficial joint tenants,” it implies that in the event of your death, your share of the property is turned over to your spouse. During the event of your divorce proceeding, you may not want your spouse to have your half of the assets.
Spodek Law Group suggests that you change this portion of your will immediately impending divorce papers begin. You need to act as promptly as possible by doing a “Severing the tenancy” of your home. Through such actions, you and your spouse will no longer be joint tenants but, in actuality, be tenants where each owns one-half of the total property.
At this time, you will need to visit your attorney and change your will to ensure your children or other family members get your portion of the home in the event of your death.
Think of Your Children
Divorcing or not, every parents worries what might happen to their young children in the event of their death.
If you have children under the age of 18, you will be fighting for custody of the child. Custody battles are grueling, especially for fathers, and, in the event you were to gain full legal custody, you need to attest a guardian.
Attesting a guardian implies that you are passing your parental duties to an appointed person who is able to have your child’s best interests at mind including their:
- Health Care
Many lawyers insist that you choose your guardian wisely. Choose someone who will care for your child in the same manner you did – which very well might be the child’s other parent.
Look at how your co-parent is handling their responsibilities and duties and determine if they are able to handle the job. Your written will is the last moment you get to speak your opinion, so ensure it is heard.
Bind Your Will
Hiring an attorney is inevitable when it pertains to a will.
Since your written will is a legal document, there are laws that must be abided to ensure it holds up in the court of law.
An attorney will instruct you on the proceedings on how to not only make one, but also carefully change one. You need to ensure the proper language is used; otherwise, the law will not enforce it.
In addition to ensuring to utilize the proper language, there are certain formalities that must be enforced to make sure the will is binding.
Most states require the following requirements:
- Witness signatures
- Inclusion of specific provisions
- Will to be typed
While creating or changing a will doesn’t take much effort – you need to ensure you are prompt in the manner. Your children’s future depends on you and your last voice should be heard in its entirety.