Collaborative Divorce and Estate Planning

There are so many issues that you must consider if or when you are going through a divorce. What about the children? Where will I live? How will the assets be allocated? In a collaborative divorce, couples seek divorce without going through litigation. Collaborative divorce is more comprehensive then the mediation alternative to litigation. It can serve to help you look at the financial and emotional aspects of divorce. In addition, from my perspective, it is an opportunity to consider the many estate planning issues. Over the next few days, I will discuss those issues and how they can best be addressed for your situation.

Who will be the guardain of my minor children? This is a difficult enough question when couples are together. It becomes even more problematic during a divorce. Either parent would have full custody of minor children when the other parent dies unless parental rights have been terminated or modified as part of the divorce settlement. It would be wise to revisit guardians that you may have appointed under your prior Wills and determine whether there is still agreement. During the collabrative process, you want to make sure you address matters relevant to the guardian of your minor children.

Contact our offices at www.ythlaw.com for more information on probate, estate planning and elder law.

Estate Planning Mistakes - Number Twenty-Three

Estate planning is not just doing a Will. There are documents that everyone should have to address what happens if you are incapacitated or disabled. You want to make sure you have documents that take care of you while you are living.

Everyone should have a General (Durable) Power of Attorney, Healthcare Power of Attorney (to deal with physical as well as mental health) and Living Will. If you fail to have these documents and you become incapacitated or disabled, a legal guardian will have to be appointed. This is a legal process which will require a guardianship hearing before the court. You can avoid this sometime lengthy and expensive process with advance planning.

Don't make costly estate planning mistakes. Contact us at http://www.ythlaw.com/