Month: March 2015

After a Divorce Should I Modify My Estate Plan?

Generally, in Utah, once a divorce decree is final and the parties are officially divorced, provisions for the former spouse in the estate plan are automatically revoked. Pursuant to Utah Code §75-2-804  all revocable gifts made to the former spouse and the former spouse’s relatives are revoked upon divorce.  Thus, divorce revokes all gifts made to the former spouse and the former spouse’s relatives in a will, in a revocable (living) trust, in a retirement plan beneficiary designation, on a pay-on-death (POD) account, and in a life insurance policy beneficiary designation (where the insured spouse owns the policy).    It should be noted that the divorce does not revoke gifts to one’s own children, even though they are also the former spouse’s children. Divorce lawyer in utah

After a Divorce Should I Modify My Estate Plan?

In addition, section 75-2-804  provides that a divorce revokes any nomination of the former spouse or a relative of the former spouse as a personal representative in a will, and any nomination of the former spouse or a relative of the former spouse as a successor trustee under a revocable trust. Divorce salt lake city

It should be noted that irrevocable gifts and irrevocable fiduciary nominations are not revoked by divorce.  Thus, the provisions of an irrevocable trust remain intact, notwithstanding the divorce, unless the terms of the trust expressly provide otherwise.

After a Divorce Should I Modify My Estate Plan?

The automatic revocation provisions are designed to accomplish what most people would want for their estate plans upon divorce.  They are intended to “fix” the divorced person’s estate plan even if he or she does not get around to actually revising the plan before he or she dies.  It is nonetheless important to routinely consult an attorney and to regularly revise your estate plan after getting divorced in order to ensure that your assets will be distributed in the manner you intend. Filing for divorce in utah

For more information and a free consultation contact one of our lawyers today.

After a Divorce Should I Modify My Estate Plan?