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7 Point Checklist for Pre-Divorce Planning

First, let’s hope you don’t need this.  But, if you do, here is a checklist of key estate planning items that should be considered prior to filing a petition for dissolution of marriage:

Note: This is a partial list of key items.  Invariably there are other considerations.  Consult your estate planning attorney.

1.         Revise living revocable trust or will:

  • Remove partner as beneficiary
  • Remove partner as trustee or successor trustee and name new trustee
  • Remove partner as personal representative under will
  • Remove partner’s children as beneficiaries

2.         Sign new Durable Power of Attorney (“DPA”):

  • Revoke all prior DPA’s naming partner as agent or attorney-in-fact
  • Name new agent to hold your DPA

3.         Sign new Health Care Surrogate and Living Will:

  • Revoke all prior Health Care Surrogates naming partner as agent or health care surrogate and name new health surrogate

4.         Life Insurance Policies beneficiary designations:  Is partner a beneficiary?

5.         Beneficiary designations for retirement plans (such as 401k) or IRA’s:  Is partner a beneficiary?

6.         Beneficiary designations for annuities:  Is partner a beneficiary?

7.         Irrevocable Trusts:  Such trusts are often complex and should likely be reviewed by a trust attorney to determine if (1) the trust includes language for termination of the partner’s interest in event of divorce; (2) partner is a beneficiary, trustee or protector; and (3) partner’s children have any beneficial interest in the trust.

For more information, contact Phil Rarick at (305) 556-5209 with Rarick & Beskin, a Miami attorney with over 20 years of experience in asset protection.

Special Note

The information on this blog is of a general nature and is not intended to answer any individual’s legal questions. Do not rely on information presented herein to address your individual legal concerns. If you have a legal question about your individual facts and circumstances, you should consult an experienced Miami asset protection attorney. Your receipt of information from this website or blog does not create an attorney-client relationship and the legal privileges inherent therein.

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