Blog Updates & eNews
Everyone’s heard the stories of celebrities who died without a proper estate plan in place. It’s been a hot topic in the last few years with Prince and Aretha Franklin serving as unfortunate faces of the phenomenon. However, it’s not just freewheeling entertainers.
With nearly half of all marriages ending in divorce, it’s not uncommon to have clients who are either going through divorce proceedings, living as a single parent after a divorce, or have been married more than once–with or without stepchildren.
When the first spouse dies, the surviving spouse may not remain as close with his or her stepchildren. Small irritations which were overlooked during the lifetime of the spouse who died, may become outright disputes.
There are a number of reasons you may want to update your beneficiary designations on your investment accounts. Divorce might be one of them.
Various studies show that most adults have not prepared a legal will. However, the point I’m really trying to make is that everyone has a will in a way—just not one that they have executed.