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Maginnis Law Office
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Adjusting Your Estate Plan After A Divorce

A proper estate plan must evolve with life changes. Certain life events, like divorce, require you to reexamine your short- and long-term financial goals and necessitate changes to an existing estate plan.

A knowledgeable divorce lawyer can help. I am John "Jack" C. Maginnis, III, and for more than 35 years, I have been helping clients throughout the Washington, D.C., metro protect their financial interests through comprehensive estate planning.

Avoiding Potential Complications

Even the most diligent planners are susceptible to making mistakes. Divorce is a fairly common occurrence, and many people simply do not realize the impact that it can have on an estate plan. If you are entering a divorce, it is compulsory to consider several aspects of your estate plan including:

  • Your will: At a basic level, you need to update your will after a divorce. Failing to make updates can result in unintended consequences such as an ex-spouse receiving an inheritance.
  • Your investment account beneficiaries: A relatively common oversight after a divorce is keeping your former spouse as the beneficiary on your investment and retirement accounts.
  • Your trusts: It is wise to amend any revocable trusts. If you do not take this action, your ex-spouse may end up in control of assets that you intended to pass to your children.
  • Your powers of attorney: A power of attorney allows an individual to make important medical and financial decisions on your behalf. If your former spouse holds this designation, you should adjust such documents accordingly.

Estate plans can be intricate, and making changes is not always a simple process. For this reason, it is wise to enlist the assistance of an experienced attorney. I can help you ensure that your estate plan is in alignment with your goals.

Call The Maginnis Law Office Today To Learn More

For a free consultation to discuss your divorce-related legal concerns, call my office today at 202-599-9001. You can also schedule an appointment by sending me an email. I am pleased to serve clients throughout Washington, D.C., Maryland and northern Virginia.

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