Updating Your Will After Divorce
Designate New Powers of Attorney
When updating your will after divorce, you should also designate new powers of attorney. The reason that your estate plan should include powers of attorney is that there may be instances when you are unable to make financial or healthcare decisions for yourself. When you designate someone as a power of attorney, you are allowing him or her to act on your behalf if for some reason you are unable to make these important decisions. There are two types of powers of attorney. The first type of powers of attorney is a person who takes care of your financial decisions. The other type of powers of attorney is responsible for your medical decisions and matters of healthcare. If your ex-spouse is currently designated as either one or both of your powers of attorney, you may choose to have new documents written, and revoke the previous documents, in order to reassign the powers of attorney.
If something were to incapacitate you today, and you were unable to make financial or healthcare decisions for yourself, would you want your ex-spouse to be making those important decisions for you? Would you be able to trust that your ex-spouse would act in your best interest when making financial and/or healthcare decisions for you? Updating your will after divorce may help to give you comfort knowing that you have designated the appropriate person as powers of attorney, should tragedy strike. Be proactive and contact Brandon Legal Group today to help reassign your powers of attorney. Brandon Legal Group can also assist you in other areas of your estate plan or will that may need updating due to divorce.