Sunday, October 5, 2008

How Does a Divorce Impact A Will?

Under Wisconsin law, all provisions in a will that favor a former spouse or a former spouse’s relatives are automatically and fully revoked. However, it is still advisable to seek legal counsel following a divorce because a will only controls distribution of probate property. If you own non-probate property (property that has a completed beneficiary form), the beneficiary form controls distribution of the property, not the will.

Also, following a divorce it would be wise to update your powers of attorney for health care and or finance to reflect who should be making decisions if you are unable to.

No comments: