#RichLifeLawyer Show 66: Divorce and Estate Planning
Imagine a scenario where your brother or sister is getting divorced. They are going through the process when your brother is tragically killed in an accident.
Wouldn’t it be terrible to get the news that on top of having to deal with the tragic loss of your brother you are also going to have to deal with the fact that his soon to be ex-wife gets all of their jointly owned property and half of his separately owned property?
Or, worse, that he forgot to change the beneficiary on his life insurance policy, so in addition to that the soon to be ex-wife is going to get a check for those insurance proceeds?
This scenario plays out every day because people don’t think about estate planning when they are going through a divorce.
Yes, when your divorce is finalized, the ex-spouse is cut out of the will.
But that isn’t necessarily the case with insurance and retirement beneficiary designations.
If you are getting divorced after you stop by your divorce attorney’s office you should contact an estate planning attorney to make sure all of your bases are covered.
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Why the #RICHLIFELAWYER SHOW?
Christopher Small is a Seattle estate planning attorney who loves helping families and business owners protect their family now and in the future.
That’s what The #RichLifeLawyer Show is all about. It’s his way of providing awesome value for free. The goal of this show is to give you life hacks that will help you build wealth, create generational wealth, and protect your family.
You’ll find information here on estate planning, financial planning, productivity, finance, self-improvement, family protection, tax avoidance, life insurance, trusts, generational wealth, and anything else Christopher thinks will help improve your quality of life (and after-life).
Christopher is a Bellevue estate planning lawyer with CMS Law Firm LLC. He is a speaker, a blogger, a husband, a father, a golfer, and really good at helping people create the life of their dreams.