Estate Planning Attorney for Divorcees in Orland Park, Illinois
Serving Individuals throughout Orland Park, Illinois and the Surrounding Areas
Recent divorcees have likely experienced a whirlwind of changes to their life style. Among these changes ought to be the revision of their inheritance plan. Estate planning when divorced is imperative. It is important for singles to understand that unless you legally appoint the decision-maker of your own selection in advance through proper estate planning, then a probate judge will select one for you. The probate administration process is expensive and revealing. In short, it is a hassle that we’d like to help you avoid. This is among many undesirable scenarios that may play out without proper estate planning when divorced.
Did you know that in the absence of proper estate planning, your assets may be distributed after death based on “one-size-fits-all” state laws written for people who do not have their own estate plan? Of course, this impersonal estate plan written by state lawmakers may not reflect your own unique circumstances and objectives for your loved ones and assets.
Drafting your estate plan when divorced, it is important to consider: What if you remarry? Well, if you want to risk losing about half of what you have should the remarriage not work out and disinheriting your own children and grandchildren, then do nothing. On the other hand, it is best to go into a new relationship with both eyes open. You need to have a legally enforceable premarital agreement inked before you say “I do” on your wedding day.
According to the U.S. Census Bureau, men are 10 times more likely to remarry after age 65. And the average time before they are remarried is just 2.5 years. When dad remarries a new wife some 20 years his junior, that can trigger all kinds of drama in the family, to say the least. As you can see, planning for being single again includes planning for any new relationships on the future, while preserving (and protecting) the relationships you already have.
Fortunately, we can help you avoid probate and replace that impersonal, state-written, one-size-fits-all estate plan with one we design together for your unique circumstances and objectives. The Law Office of Michael T. Huguelet, P.C. helps individuals when divorced, even coordinating beneficiary designations on life insurance and retirement plans with your estate plan to avoid unpleasant, unintended consequences.