When marriages end, those who managed to make their way through the process of getting a divorce may feel overwhelmed for a number of reasons. They may be dealing with serious emotional concerns, and they may have a lot of financial pressure as well. Sometimes, getting a divorce can open up a new chapter in one’s life, and they may be committed to making positive changes in all aspects of their lives, especially from a financial standpoint. For many people, this can be a great time to create a will.
People may want to set up a will for many reasons following a divorce. They may realize how important it is to be prepared for unexpected life changes and the financial ramifications of being unprepared. They may also have concerns about their children and how their assets will be managed now that they are no longer with their marital partner. Moreover, people may need to make critical revisions to their estate plan as a result of their divorce.
Sometimes, people feel overwhelmed by the legal hassles associated with the divorce process. They may be hesitant to take on another critical responsibility, such as approaching the estate planning process. However, the benefits of doing so may be significant, offering financial security for their loved ones and giving them peace of mind. We realize that people who have been through a bitter divorce may be struggling with stress, depression or other hardships. However, those who want to set up a will should not overlook this critical aspect of their finances and their life.