Estate Planning and Divorce Mediation: a Gentle Reminder

For the divorcing couples we see at Equitable Mediation Services, they already have quite a bit on their minds so I’m sure the topic of today’s post isn’t close to being on their radar but it should.  Sadly, it is a fact of life that we all live to die and one day, we will no longer be on this Earth but that doesn’t mean while we are here, we can go without a plan.  Much like when you use a divorce mediation service to handle your divorce, there is a plan.  An organized way of looking at things to handle the major issues of the day.  With divorce mediation it’s things like the equitable distribution of your marital assets and liabilities and your New Jersey child support calculations and with wills and trusts, it’s the equitable distribution (if you will – no pun intended) of your “Earthly” assets and liabilities.   So where do the two intersect you ask and what exactly does divorce mediation have to do with estate planning?  I’ll tell you.

When you got married if you were like most people, you and your new spouse went to an attorney and drew up wills (I hope you drew up wills – please tell me you did).  At the time, it was likely that you did not have children and never thought you would end up divorced so you left everything you had to your spouse.  Things were going along fine and then one day you had a few children and so you modified your will to include them as beneficiaries. That’s great but now that things have changed and you are going through a divorce, you will need to make another change to your directive.  I’m sure right now, it’s the last thing on your mind but given the importance of this topic, it’s not something that can wait.

Certainly we don’t expect to die suddenly but sadly, there may be a chance that something happens to us between the time we get divorced and we change our will and your assets may not get distributed as you intended so allow me to make this simple suggestion.  See an estate planning attorney before your divorce is final and draw up a new will to take effect upon the final decree of divorce.  This way, it’s one less thing to worry about and you can move on knowing that your affairs are in order should something happen to you in the near future.  I know, not the most pleasant topic to discuss but unfortunately necessary and one we cover during mediation sessions as morbid as it may seem.

If you have any questions about divorce mediation or how mediation can benefit you, please feel free to contact us to schedule a free, no-obligation consultation in one of our six central New Jersey office locations where we will take some time to get to know more about you and your situation and see if mediation is right for you.  Of if you’re simply not ready yet, feel free to visit the Equitable Mediation Services website where you’ll find lots of great information about parenting plans, equitable distribution, NJ child support and spousal support / alimony and contact us when you’re ready.  We look forward to helping you get through your divorce peacefully, efficiently and with as little stress on you and your family as possible.