Updating your estate plan after a divorce should be at the top of your must do list. Forbes’ recent article, “9 Things You Need To Know About Estate Planning After Divorce” suggests that, if your divorce was finalized in 2018, prior to the effective date of the new rules providing that alimony is no longer tax deductible, it’s time to revise your estate plan. It’s also good idea for those people who divorced in prior years and never updated their estate plans. Let’s look at s
Estate planning is fairly easy to do. That said, it is also very easy not to do (as evidenced by the statistics on the subject). Therefore, it is helpful to understand the reasons why putting together your estate plan is so important. Awareness of the importance of estate planning can help propel you into action. Investopedia’s recent article, “4 Reasons Estate Planning Is So Important,” says you should consider the following four reasons why you should have an estate plan.