Considering Divorce? Update Paperwork First
The COVID-19 pandemic has caused a lot of couples to think hard about their marriage. Millions of Americans are unemployed or working from home due to the pandemic. Plus, shelter in place orders are keeping people at home. This means that couples are spending more and more time together. Many people used to spend at least eight hours a day away from their spouses. Now, they’re around each other all the time and it’s driving them nuts, to say the least.
In fact, many married couples are considering divorce. Their marriages may have already been on the rocks and after spending so much time together, they may have determined that their marriage cannot be saved.
Many lawyers are seeing an uptick in people wanting to update their important documents, such as estate plans and healthcare directives. For those considering divorce, now is a great time to do so. You should take some time to review these documents and make changes as needed. If you don’t have this paperwork in place, now’s a good time to get these documents created.
The good thing about Maryland is that it has a law that revokes certain provisions following a divorce. This means that upon a divorce, if you signed a will in which your ex-spouse receives your assets, it will not be applicable in a divorce. So even if you fail to update your estate plan, you can rest assured that your ex-spouse won’t receive anything upon your death. However, this does not take place until the divorce is finalized. So if you die mid-divorce, and your estate plan is not updated, your soon to be ex-spouse will get whatever is outlined in the will or trust.
If you get ill from COVID-19 or become seriously injured in an accident, you’ll want to make sure your ex-spouse isn’t the one making the decisions about your health. The agent you decide to make your health decisions will be making your post-death decisions as well. Therefore, make sure this person knows your wishes, such as whether you want to be buried or cremated or whether or not you want to donate your organs.
You’ll want to update your beneficiary in the event of a divorce. You probably don’t want your ex-spouse to get your life insurance or retirement money if you’re no longer married, so make sure to update them with another family member. With some plans, though, you may need to wait until the divorce is final, since some require spousal consent to make changes if you are still married.
Contact a Maryland Family Law Attorney Today
If you’re thinking of divorce, you’ll want to spend some time updating important documents. Retirement accounts, wills, trusts, healthcare directives and life insurance policies are just some of the things that will need to be updated.
Let the Columbia divorce lawyers at the Law Offices of Todd K. Mohink, P.A. guide you through the divorce process. He will take care of all the matters relating to a divorce. To get started, call (410) 774-5987 or fill out the online form. We have two offices to serve you.