Jump to Navigation
Divorce issues related to estate planning

Thursday, June 29, 2017

The divorce process can be complicated for individuals unfamiliar with family law. As some Texas residents are aware, divorce issues pertaining to estate planning can be particularly complicated. This is one more reason why the support and guidance of an experienced family law attorney can be helpful in navigating the more challenging elements of the divorce process. 

At the outset, issues like child care, spousal support and asset division tend to take precedence for most people, and understandably so. However, estate planning questions may also arise. A formal marital settlement agreement is designed to set forth what obligations each party has to the other.

Typically, a myriad of financial issues are included, such as life insurance requirements when the parties have children. Often, divorce settlements require both parties to maintain life insurance policies in order to provide funds for the benefit of any children should one spouse die. This is meant to ensure that sufficient funds will be available for the care and well-being of any child who has not yet become an adult. 

It is important that both parties to a divorce understand their rights and responsibilities prior to agreeing to a settlement. Here in Texas, there are a variety of options available during the process of negotiating a marital settlement agreement. Seeking the advice and support of an experienced divorce attorney can help mitigate divorce issues and ensure a settlement that is fair, comprehensive and beneficial to the client as well as any minor children who are caught up in the process as well. 

Source: natlawreview.com, "How Divorce Can Impact Your Estate Plan", Catherine F. Schott Murray, May 19, 2016

No Comments

Leave a comment
Comment Information