It’s crucial to update your estate plan when circumstances in your life change. This ensures your estate plan reflects your existing wishes. One of the changes that calls for an update is the dissolution of a marriage.
If you go through a divorce, you need to make changes to your estate plan. Here is why:
They will not be regarded as a surviving spouse
In Texas, provisions in a will are read as if the former spouse and each of their relatives (who are not relatives of the decedent) failed to survive the decedent. This rule also applies to all fiduciary appointments.
Therefore, if you had named your spouse as a beneficiary, executor or power of attorney, and failed to make updates after your divorce, the court won’t consider those provisions.
If you have property in an irrevocable trust in which your former spouse or their relative (who is not your relative) is a beneficiary or nominated as a trustee, the court may dispose of the property to a trust with identical provisions to the irrevocable trust. The court shall handle the case as if the former spouse or their relative had disclaimed the interest granted in the provision or had died immediately before the dissolution of the marriage.
Can you prevent the application of these laws?
The above-mentioned rules will not apply if a will or trust expressly provides otherwise. If you want your former spouse or their relative to receive an inheritance or serve a particular role, clearly state so in your updated estate plan. If you don’t, the court will apply relevant laws when distributing assets.
If you want your assets to be distributed according to your wishes, you need to make necessary updates. Get more information on how to update your estate plan.
