Estate planning after a divorce is just as important as it was prior to the dissolution of the marriage. Estate planning is a critical tool that gives you the ability to decide how your assets are handled and distributed when you are gone as well as who will be in charge of making sure your wishes are carried out as directed.

Prior to the dissolution of the marriage you and your ex-spouse probably had long conversations about the specifics involved: beneficiaries, distribution of assets, nominating an executor, assigning power of attorney, spelling out wishes regarding healthcare and end of life decisions. Unfortunately according to the American Psychological Association, “about 40 to 50 percent of married couples in the United States divorce. The divorce rate for subsequent marriages is even higher.”

After a divorce all that joint planning, compromise and decision making is no longer applicable. Typically a spouse is made the primary beneficiary of assets as well as the primary decision maker in event of serious illness of death. After a divorce even in the best of circumstances there are likely major changes that need to be made to the estate plan. Estate planning after a divorce may be the last thing on your mind but should be one of the first things addressed to ensure your wishes for your estate and assets are followed.

Item 1: Change your beneficiaries on all accounts and life insurance policies unless otherwise dictated in your divorce decree. In some instances of divorce, one party will be required to maintain a life insurance policy with the ex-spouse as a beneficiary so that in the unlikely event of death, the estate would be able to cover the costs of any outstanding spousal and/or child support.

Barring any specific court orders stating otherwise, take the time to work with your financial advisor or attorney to gather and complete all necessary paperwork to change your beneficiary and contingent beneficiary information. If needed, contact your insurance salesperson and request his or assistance. If available, provide copies of the most recent statements for all accounts, as this will help your legal and financial professionals obtain the correct forms and include all accounts. This leads to our next to item.

Item 2: You will need to revoke or revise your will or trust. More than likely your previous will or trust was discussed, decided upon, and implemented as a partnership with your ex-spouse. Now that his or her input is no longer part of your decision making, you will want to be sure to revise or revoke these items. If you did not have a will or trust with your previous spouse, now is a good time to get one in place. Estate planning after divorce is not the only time estate planning should take place. If you want to decide how your assets are distributed these are important tools you should be utilizing.

A will or trust can establish: an executor of your estate, how your assets will be distributed, and power of attorney both financial and medical. These items directly impact who will control your assets, who will be responsible for overseeing your wishes are carried out, and who may have to make difficult healthcare choices in the event of your incapacitation. This is why estate planning after divorce is so important. You want these items and documents to be current and up-to-date so that the appropriate people of your choosing are in their assigned roles. Would your ex-spouse be responsible with your assets? Would he or she be considerate of your feelings? Would you trust him/her with important health care or financial power of attorney decisions? If the answer to any of these questions is no, then addressing your estate planning after your divorce is a top priority.

Item 3: Consult with a knowledgeable estate planning attorney. Keep in mind that laws regarding estate planning after divorce can be state specific and can be revised or changed. For instance, different states handle gifts left to your ex-spouse in a will differently. In many states, any gifts made to a spouse in a will are revoked once the divorce is final. In Arizona, that is taken a step further. Any gifts made to the former spouse or anyone related to the former spouse by blood adoption or marriage will also be revoked. So if you want to still leave something to your ex-spouse’s child, you will need to state that expressly in your revised will.

Also, it’s important to keep in mind that these changes do not take effect during the divorce process and are only implemented once a final divorce decree has been executed. So if you have never actually gotten around to finalizing your divorce—even if you have been separated for years or are now in a relationship with someone else—your ex could still be entitled to your estate. Consult a legal expert for detailed, state specific advice and be proactive.

Item 4: Update your designated custodian for any minor children. An additional consideration should be the custody of any minor children. The person that you designate to care for your child(ren) in the event of death may change after a divorce. Generally, a child would be placed in the care of the other parent unless that parent has been declared unfit or is unable to care for the child. However, in some circumstances it would be entirely appropriate to designate another person to care for the child.

For instance, a guardian would need to be appointed if both parents pre-deceased their minor child(ren). After a divorce, relationships can become strained between formerspouses, in-laws, other family members and friends. Due to these changing dynamics it may be necessary to update this information.

Estate planning after a divorce is not just important, it is essential. Work with professionals that can guide you through the revision process. The only way to make sure your wishes are adhered to is to take the time to review and edit your estate plan. Part of the post-divorce process is moving forward and creating a new path for yourself. Make sure that you plan that path and put those plans in writing. While a post-divorce transition can be emotional and overwhelming, estate planning is simply one of those items that can’t and shouldn’t wait.

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