In California after a divorce is finalized what happens to the revocable trust put in place during the marriage. Is it automatically revoked or is there a form I need to sign?
Answer
You need to do new estate planning. While provisions relating to your spouse may be invalidated by statute, you need to rethink and replan your personal affairs. Look for and eliminate powers of attorney. Give careful thought as to how assets are to be distributed to children or others. The requirement of planning does not disappear when you get divorced.
Answer
I've never seen a trust that automatically terminates on a dissolution, so Mr. Christian is absolutely correct. A divorce makes updating your estate plan mandatory.
No comments:
Post a Comment