Protecting the Person Closest to You
Many couples over age fifty who have been divorced or widowed are choosing not to marry again; rather, they are choosing to live together and keep their financial assets separate. It’s important to know that when a person dies, there is little to no protection for someone who lives with the decedent, even if they live together for many years. Unless proper estate planning documents are drafted, a close friend may be forced out of the home and may end up with nothing from the estate.
Protecting Your Loved Ones
It is important to change your will and other estate planning documents following a divorce because a former spouse may still be a named beneficiary. It is also important to talk to your adult children about your intentions in your will. A new relationship can cause stress for children who see the new partner as a threat to their inheritance. Children who understand your intentions in your will are more likely to not challenge the will after you are gone.
Get Legal Help
Experienced Estate Planning Attorney Elga Goodman will help you create a plan that protects everyone important in your life. Contact us today at 973-841-5111.