Family Law Blog

Estate Documents Need to Be Adjusted During a Colorado Divorce

By Denver Divorce Lawyer on August 25, 2010

Deciding who gets the house or who has primary custody of the children are both topics that are frequently at the heart of any divorce proceeding. However, how often do couples discuss existing retirement plans or life insurance policies? The answer, according to West Virginia’s WVNS-TV, is not often enough.

When filing for a Colorado divorce, it is important to remember that all assets acquired during the marriage need to be examined to determine an amiable settlement. According to the news report, many divorcing couples may fail to realize that retirement accounts, life insurance policies, and wills all need to be properly updated as well during the divorce process. These estate documents are just as important as other more tangible assets are, yet many couples fail to realize this when filing.

Reportedly, 20 states currently have laws that automatically revoke benefits once a couple’s divorce is finalized, but it is still strongly advised that new paperwork is drawn up after a divorce, even if beneficiaries are going to remain the same. While probate assets are divided during a divorce, non-probate assets such as term life insurance policies need to be adjusted accordingly. Other decisions that need to be made during the divorce process can include child custody and visitation arrangements.

Regardless of what the details of a divorce may be, it is important to retain the services of an experienced family law attorney who will examine all assets, both probate and non-probate, to determine the most equitable outcome available for your divorce. If you are thinking of filing for divorce in Colorado, please don’t hesitate to contact the Denver divorce attorneys at Kaplan Law, LLC. For more information, please call 1-877-527-5206 today.