Going through a divorce is an emotionally charged, challenging process. Amid the whirlwind of legal proceedings, contacting an estate planning attorney might not be at the top of your to-do list—but it should be.

A divorce, often referred to as dissolution of marriage, can stretch over several months, sometimes even years. During this period, it’s vital to reassess what would happen to your assets, or even yourself, should you become incapacitated or pass away before the divorce is finalized.

What Happens If You Don’t Update Your Estate Plan?

Without an updated estate plan in the face of a looming divorce, your soon-to-be-ex may still be entitled to everything outlined in your existing estate plan, or as decided by the courts if no estate plan is in place. 

For example, if your ex-partner holds your medical power of attorney, they would have control over your medical decisions, potentially without considering your best interests. Similarly, if they have power over your finances and you become incapacitated, the outcome may not be in your favor.

Shared Trusts and Inheritance

Matters can get complicated if you and your spouse are co-trustees on various trusts or accounts. In case of your incapacitation, your spouse could access, use, or even sell properties you wouldn’t want them to have access to. They could even take out loans without your consent.

Or, if you have inherited or are set to inherit assets from your parents and pass away before the divorce is finalized, your inheritance could pass directly to your estranged spouse. 

The Impact on Minor Children

For those with minor children, an outdated estate plan can lead to unintended consequences. Without an updated plan, the courts will likely place your ex in charge of any money or other property left to your children.

Protecting Your Interests: Work With an Minnesota Estate Planning Attorney 

As you navigate through a divorce, it’s prudent to consult with an estate planning attorney. They can provide crucial advice on your vulnerabilities, helping you revoke appropriate documents within court-mandated timeframes and contact institutions to ensure they’re aware of these changes. While the divorce is pending and your ex is still legally your spouse they will still have some claim to your estate, but with proper planning you can limit that claim.

If you’re filing for divorce in Minnesota, don’t overlook the importance of updating your estate plan. Our experienced estate planning attorneys are ready to help protect your interests, ensuring that you’re not caught off-guard in this challenging life transition.  Simply contact us at 763-244-2949 to schedule a consultation.  

However, there’s another often-overlooked aspect of divorce – estate planning. Below are the elements of estate planning you should consider to prevent your ex-spouse from acquiring your assets or retaining control over your affairs if something happens to you.

Update Your Beneficiaries

Assets, such as retirement plans, life insurance policies, and bank accounts allow you to name a beneficiary. That person will receive the funds contained in the account when you pass away, regardless of what’s in your will or trust. A divorce does not negate a beneficiary designation either, so be sure to update each one after the proceedings if you wish to prevent your ex-spouse from inheriting from you.

Consider a Trust to Manage Your Children’s Assets

If you and your ex share young kids, the court could give your ex the responsibility of managing the funds you decide to leave to your children. Unfortunately, that allows your ex to access your accounts. They could also choose to use your money and assets for their own benefit.

Ensuring your minor son or daughter receives their inheritance may require you to establish a trust and appoint a natural trustee. The trustee you choose should understand their role in your child’s life and how to manage your assets. If you want the funds from your bank account to go towards your kid’s education, medical care, or another necessity, indicate that in your estate plan.

Don’t Forget About Your Will

Besides changing the beneficiary of specific assets, you also have to update your will. It’s possible that your ex-spouse could still inherit what you own at the time of your death if they are listed in the document. When you are legally able, be sure to replace your ex with your children, parents, or anyone else whom you want to receive your inheritance.

You should also consider how to draft your will if you plan to remarry, as your new spouse could receive all your property and leave your children from a prior relationship with nothing.  Talk to your attorney if this is a concern for you.  A trust may also be a solution in this situation.

Positions of Authority

As soon as you file (or possibly before), talk to your attorney about removing your spouse from positions of authority in your estate plan. Chances are, you do not want your ex to serve as Power of Attorney or Healthcare Agent who can make life or death decisions for you in an emergency. Your attorney will help you remove your spouse and appoint someone else in his or her place.

Getting Help

There’s a lot to think about during and after a divorce, and estate planning is one task that should be “top of mind” for your protection.  If you have questions or need help completing any of the steps in this article, please reach out to our Minnesota will and trust law firm at 763-244-2949 for assistance.

Sheer Change for All Involved

Humans are built to seek a comfort zone. This doesn’t necessarily mean a positive comfort zone, just simply any situation that we become comfortable in. We are also very adaptive creatures. We can get ‘comfortable” in some very negative situations. Divorce is a massive change that will take us out of our comfort zones. Change is never easy but change can bring us into a better situation. Be prepared for the emotional turmoil that may come as you find your new comfort zone.

The Legal Process May Be Easy or It May Be Hard

We have all heard the horror stories of messy divorces, and it is true that the legal process for some divorces can be challenging. But for other divorces the legal process may be quite simple. If you want a divorce don’t let the fear of a messy divorce process stop you. You may find that the legal issues may be outweighed by the peace and success it can bring to other parts of your life.

Seek Support and Get Educated

The most important thing to consider is what help you can line up before you get started. Start building your support network of friends and family you can lean on while you rebuild your life. Consider starting, or continuing, therapy to help you through the emotional challenges. And make sure you find an experienced family law attorney that can guide you through the divorce process while educating you on your options. Contact our office today and schedule your Personal Strategy Session.

Is Your Marriage Impacting Other Areas of Your Life

We often try to keep our personal lives private. Especially when things are tough. But if you are in a constant battle at home it can often affect every other part of your life. It puts you in a bad mood. It eats up your focus. It is hard to consider moving forward in any other part of your life while your home life is in constant turmoil. And even when you think you are keeping the marital discord away from the children, they can still be impacted by the tension at home.

Is Your Marriage Fixable?

It is widely believed that any relationship can be fixed. This belief ignores one important fact. To be fixable, both parties must be willing to work on it and make the necessary changes to improve the situation. If either party is unwilling to do the work to fix the relationship then there cannot be effective change. One person just “living with it” actually makes the situation worse.

Have You (or Your Spouse) Already Checked Out?

I often talk to divorce clients about the difference between the Emotional Divorce and the Legal Divorce. Many people find they, or their spouse, have already gone through the Emotional Divorce long before the Legal Divorce starts. If one party has checked out putting the legal divorce off is just delaying the inevitable.

If It is Time To Move Forward, Let’s Get Started.

Divorce is never a fun process, but at Lewis Kannegieter Law, Ltd. we try to make it as easy as possible. If the marriage is over and it is time to move on, there is no need to keep holding on. When marital discord is negatively impacting your personal life, your children, your health, and your work, it is time for a change. While the decision and process may be difficult, ultimately many people find they are able to not just move on, but thrive after a divorce. If you are at a point where a divorce is unavoidable then we would be happy to discuss the options with you. Contact our office today to schedule your Personal Strategy Session.

While the laws do vary from state to state, there is often a difference in how marital property is treated compared to non-marital or separate property in a divorce. It is important to understand that difference.

Marital property is any property that is acquired during the marriage such as houses, cars, retirement plans, 401(k)s, IRAs, life insurance, investments and closely held business, regardless of who owns or holds title to the property. Separate or non-marital property includes any property owned by either spouse before the marriage, as well as gifts or inheritances received by either party prior to or after the marriage.

In the event of a divorce, the courts will divide marital property in a fair and equitable manner. Non-marital property can remain with the original property owner, provided the non-marital aspect of that property is proven.

One way to prove the non-marital aspect of property and protect an estate in the event of a divorce is to put in place a prenuptial agreement. This legal document specifies each party’s property ownership and clarifies their respective property rights should they end the marriage. A prenuptial agreement can reduce the conflict that is normally associated with divorce, avoid court intervention regarding questions of property division and also serve as an effective estate planning tool.

A prenuptial agreement is also beneficial to those who are entering into blended families because it will help to preserve the rights of children from prior relationships. A well-designed agreement will distinguish separate property from marital property so that those assets are not misclassified if one of the spouses dies.

In the end, a prenuptial agreement can enable each spouse to protect their assets and provide for their loved ones in the event of divorce or death. If you are considering marriage and have children from prior relationships or significant non-marital assets, it is essential to put a comprehensive estate place that includes a prenuptial agreement.

Child Support at a Glance

While child support determinations may vary state to state, the courts generally consider a number of factors in reaching these decisions, including:

• The income of each parent
• Whether one parent is paying spousal maintenance to the other
• The health, medical, educational, and childcare expenses of the child

Child support orders specify the amount that is to be paid and usually require payments to be made on a monthly basis until the child becomes an adult.

Enforcing a Support Order

While both parents are responsible for the financial well-being of their children, the parent who has primary custody will typically be awarded child support. A parent who fails to comply with court ordered child support can be held accountable by the other parent. In order enforce the order, it is necessary to file an “Order to Show Cause” or a similar legal document with the court. This order must also be served on the non-paying parent.

The court will then hold a hearing and the non-paying parent will need to explain why the payments have not been made. In some cases, there may be legitimate reasons, such as a sudden loss of income or an illness or other emergency. If the order was violated without cause, however, the court will move to enforce the order. In these situations, the court has a number of options, such as ordering payments to be automatically deducted from the non-paying parent’s paycheck.

If the parent is a repeat offender, the court can also garnish his or her wages, place a lien on real property or even seize bank accounts. A more drastic step, the court may find the non-paying parent to be in contempt of court which could result in a prison sentence and fines. However, courts are generally not inclined to go this far since the parent will then be unable to earn income to comply with the child support order.

If you are receiving child support collection services through the county child support office then the county will often initiate enforcement procedures through the court system.