Life after Divorce – Have you planned for your future?
As if divorce isn’t life-changing enough, you also need to consider life in the aftermath and how you plan your future.
Did you know that if you had a Will whilst you were married, then you have three months from the date of your divorce to amend your Will? If you do not change your current Will for whatever reason and you pass away without signing a new Will, then the existing Will remains in place; and you may have unwittingly left your estate to your ex-spouse. Not many of us can imagine that this would be our choice!
It is also a good idea to review your policies and your nominated beneficiaries. Sometimes a divorce order will dictate a beneficiary (as the policy may form part of such an order) in which case you are unable to change your nominated beneficiaries. If this is not the case, then you will be in a position to change the beneficiaries. Seeking legal advice on the best way to use a policy as a result of death is a good idea. Policies can create nest-eggs for young children or they can create liquidity in winding up an estate.
A chat with an attorney after a divorce is often comforting as they can help you plan a way forward that suits your new life whilst making provision that the divorce order is honoured, even in death.
After any life-changing event, such as divorce, death, birth of a child or even a drastic change in financial circumstances, it is recommended that you retrieve your Will from its dusty box and review it.
If you need more information or legal advice on the subject, please contact Abrahams & Gross Attorneys for assistance.
t. 021 422 1323 | e. email@example.com
Tagged attorney cape town, divorce law, family law, Family Law Attorney Cape Town, family law south africa, family lawyer, juan smuts, wills; updating a will; estate planning; trusts and estates; drafting a will