In my many years of working in the Estate planning industry I have had many clients who experience relationship changes.
A devastating divorce or even a “friendly one” opens a whole new can of worms.
The State of Tennessee gives a spouse many powers to make decisions for a spouse if their paperwork is in order, but a divorce forces the undoing of those powers, and the need to establish new paperwork to be sure your new life, and your remaining estate is in order.
Does someone new take over? Maybe an oldest child or a sibling or a new life partner?
Are new personalities like step children now taking a position in your life?
Are you now taking assets into a relationship you want preserved for your children from the first marriage? Or protected from the first relationship?
If you do not have a will or a Trust, then you have what I call the Government plan.
If you die or become disabled, the STATE may be in a position to decide how your assets are distributed, according to their perceived relationship requirements. This may not be your wishes at all. You and I both know it happens, and all it takes to prevent this is the proper paperwork.
Schedule a discussion of how relationship changes can affect your life plans.
Most people just put this off until a trigger event occurs. You shouldn’t do this.
If you want a more in depth research site to help you learn what you need to do, again: no credit card required, just click here. This one has a free ten day trial with no obligation to buy, but has videos and a work sheet that my help you decide what needs to be done.
Again, both are absolutely free to pursue. I call it Family Tree Asset Positioning. It is the fastest, easiest, most affordable way to get this done from the privacy of your home, with no big legal bills.
It’s a no brainer.