Actress Shannen Doherty's death last year highlights how critical timing can be when it comes to estate planning during divorce. Her last-minute divorce likely saved her estate millions and prevented years of legal battles.
As a professional in the field, I've seen many financial advisors, accountants, and even other lawyers suggest that naming beneficiaries on your accounts is sufficient, and that you don’t need an estate plan. However, they often overlook the potential risks to your family's financial future.
Imagine this: You're in your twenties, and you fill out a form at work naming your significant other as the beneficiary of your retirement account. Fast-forward 28 years—you've long since broken up, lived a full life, and died, and your ex gets your now-million-dollar nest egg. Sound far-fetched? It's not.
Getting married and starting a new chapter in your life is an exciting time. It’s also a time that requires a lot of housekeeping such as updating your address
Wedding season is winding down, and if you are a newlywed or are planning to tie the knot soon, it’s time to make your first legal move as a married