Revocable trusts offer a number of benefits, such as avoiding probate which can help save money as well as time while maintaining privacy. However, there are times when people may decide to take a second look at their revocable trust. For example, someone who has decided to split up with their marital partner may need to go over their trust as a result of their divorce. For starters, it is very important to remember that everyone’s circumstances are unique, so the approach that works best for you may vary in comparison to someone else’s. Many people choose to speak with a legal professional to ensure that they make the right decisions and know their options.
You may have a number of considerations related to your revocable trust due to a divorce, whether they involve your former spouse, your kids or your property. Ending your marriage can be challenging for many reasons, whether you are adversely impacted from a financial standpoint or struggle with emotional difficulties due to divorce (depression, anger or anxiety). Some people might feel like pushing off estate-related matters due to a difficult divorce and our law firm certainly understands the pressures that can be involved in divorce cases. Family law issues, especially those involving kids or significant assets, can be very hard to work through.
By handling your estate properly, you might find that it is easier to move forward after your divorce and gain peace of mind. Our probate and trust litigation page offers more on revocable trusts.