When you go through a divorce, does your estate plan automatically update to remove your ex-spouse? Or are there steps you need to take to make sure everything is in line with your wishes? At McCulloch & Miller, we consistently tell our clients that they should update their estate plans every three to five years, or, in the alternative, after every major life event. A divorce certainly qualifies as a major life event, and it requires each individual to review their estate plan so that they can make any necessary changes post-divorce.
Automatic Revocation in Texas
In Texas, unlike in some other states, a divorce automatically removes your ex-spouse as a beneficiary in your estate plan. This means that if you had your spouse as an inheritor of your assets, your accounts, your life insurance policy, or your real estate, that person will no longer have any rights to your assets when you die. If you do want your ex-spouse to continue to be a beneficiary to your estate, you will need to explicitly state that in your will after your divorce.
It is therefore necessary, after a divorce, to name a new person or group of people who will inherit from your estate. You might also need to change your power of attorney from your ex-spouse to another person. These amendments are important; because Texas is an automatic revocation state (meaning your ex-spouse is automatically removed from your estate plan when you divorce), it is up to you to fill in the gap that is left behind.
Notably, this automatic revocation happens when your divorce becomes final. If you are in separate homes but have not begun the divorce process, or if you are currently litigating a divorce, the law still considers you and your spouse to be legally married. As such, any provision of your estate plan that includes your spouse will remain until your divorce becomes finalized. If you have questions about what this might mean for you and your ex-spouse, contact an attorney that can provide the necessary guidance.
Do You Need Legal Advice from a Trusted Houston Estate Planning Attorney?
At McCulloch & Miller, we are an experienced team of knowledgeable Houston estate planning attorneys that take a holistic approach to estate planning, elder law, and long-term care planning. Over the past four decades, we have learned time and time again that the greatest key to effective estate planning is listening attentively to our clients’ goals. We consider it a privilege to do this work, and we are honored to have gained the trust of our client community in the Houston area. No matter what stage of the estate planning journey you are navigating, know that you can give us a call and count on us for sound legal advice.
If you would like to set up a call with one of our Houston estate planning attorneys at McCulloch & Miller, give us a call at 713-936-9073. You can also fill out our online form to tell us about yourself and have a member of our team contact you as soon as possible regarding next steps.