Are you going through separation or divorce?

If so, you are probably thinking about these 4 things: parenting your children, child support, family property, and cash flow. In my mind, it’s important to add a 5th item to the list: estate planning. Knowing how your children will be cared for and how the law treats the estates of newly separated or divorced parents is a key part of planning and is particularly important if you have young children now. Think about what expectations you have for your children (and of the other parent), who should care for your children if both you and their other parent die while they are young and about when you should make a new will. When putting the pieces of your

post-separation picture together, make sure you review any estate plan you have in place now, ask questions about what will happen if you don’t make any changes (or make a plan at all), and determine if you both agree on who should care for the children if both of you die or become incapacitated. To ensure that those you wish to provide for receive your gift without complication and that your children are well cared for, make sure you ask your lawyer about including estate considerations as part of your separation task list.