Estate Planning: Writing that Necessary Letter to Your Ex

Estate planning in and of itself is not a heart wrenching process. Though it can be complicating to have all of your affairs placed in order for the future, you can rest assured that when you die your ducks will be in a row for those you love whom you desire to inherit your assets and property. However, if you have recently gone through a divorce, you are already full aware that life is not more complicating as a whole. Not only do you have to worry about the property division in your divorce, as well as child custody, support and alimony, you now have to deal with the fact that your end of life wishes are going to look very differently than they did while you were still married. Estate planning is a delicate process that needs to be done properly in order to be effective for your loved ones later on. It is for this reason that hiring a trusted estate planning and probate lawyer should be your first choice, especially in the event that you have gone through a divorce and know that changes need to happen.

One of the ways that you can contact your ex is by sending him or her a letter discussing the various details at hand, especially regarding matters that involve your children. While you may be able to have your end of the deal (in reads to your estate plan) squared away after your divorce, this letter can be a friendly and helpful reminder for your ex to make sure that the children are going o be well cared for on their end as well. First off, you want to start off this letter in a one that does not sound controlling and cautiously describe that you want to have your children's best interests in mind, though you have no intention to control the way that they are running their estate plan.

One of the first things you will want to cover is their life insurance plan, and encouraging them to make sure it is up to date. After a divorce all of the tides will change, so you want to make sure that details like beneficiaries, etc. are done in such a way that your kids will be well care for by choosing someone you can trust. Make sure you emphasize the fact that the children cannot be the beneficiaries, as this person will be technically their financial guardian until hey reach the age of 18. As a way to avoid the process of probate, encourage your ex to set up a trust fund for your children. Another helpful tip is to encourage them to list a trustee that you are able to work with as the current shared guardian over the kids.

When considering how much to leave for the children there is a helpful quote that can point parents in eh right direction. As parents, we want to "leave our children with enough money to do something with their lives, but not so much money that they have to do nothing." As parents, we want to help equip our children for the future, not hand it to them on a platter. By setting up a trust you can determine the guilders of their money and then any extra give it to charity or someone else in need.

There are many more details that you will want to discuss with your ex regarding estate planning and how it will affect your children. Be sure to contact your estate planning attorney today to find out more helpful tips!