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Life after Divorce: Updating Your Will

By the time you are finished with the divorce process, you will understandably be tired of paperwork, lawyers, and calculations. However, there are still important updates that need to be made, and one of the most crucial is your Will. Many people mistakenly believe that once they have finished their Will, they will never need to update it. There are many reasons you would need to update your Will, and divorce is certainly one of them.

One of the main parts of your Will that needs to be changed after your divorce is who the beneficiary of your assets is. If you named your spouse as your sole or primary beneficiary (as most people do), now is the time to ensure you list a new partner, or your children, or a loved one as the new beneficiary.

Additionally, you should outline what you would like to happen with your children – if you were to die or become incapacitated, would you like your kids to go and live with your ex? If not, your Will should address who you feel the best guardian would be.

Furthermore, check whether your ex-spouse was given any power of attorney rights for financial, medical or other issues. If this part of your Will is not changed, your ex could be the only person legally allowed to make decisions for you in the case that you are no longer able to do so.

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