Divorce can be a lengthy process with lots of stressful, time-consuming, and heart-wrenching tasks to follow, that may leave you indecisive on where to start. We recommend creating a list and to add a review of your estate plan and trust. Our probate attorneys in McAllen highly stress this to ensure your belongings go to the people you trust.
Read four of the most crucial steps you need to take to revise that trust as soon as possible.
Give Finalized Divorce Papers to Your Probate Attorney in McAllen
If you and your ex legal spouse has created a revocable living trust it’s best to first seek legal advice from our McAllen probate lawyers. The process entails going through probate in which a judge can ultimately divide the properties and assets evenly amongst one another. The following items in Texas that are commonly divided are…
- Family home
- Bank accounts, income, dividends, and benefits
In Texas, debts are also commonly divided such as:
- Credit card debt
- Mortgage payments
- Rent or owned items
- Property loans
It’s important to get legal guidance in what financial obligations you may still owe your ex-spouse and how to revise your living will.
Update Who gets Guardianship of your Minor Children
Unfortunately, at times an ex-spouse may not be fit enough to care for a child. It may be the reason for your initial separation, but whether it’s substance abuse, mental illness, or other issues; it’s best to call our probate attorneys in McAllen and choose a guardian to oversee their care. Allow us to help advise you on who may be best fit for caring for your kids.
Create a Trust for Your Minor Children
Without a trust for your children your divorced ex-spouse has legal authority to handle and have complete control of all possessions for your shared child. We can walk you step-by-step to help legally bind your belongings to your children. Don’t wait until your child is 18 to give them the authority to handle their owed assets, create a trust for them today. Don’t allow you ex-spouse to receive you possessions contact us today to create and set up a trust.
Update Beneficiaries in your Will and Trusts
Most wills and trusts mention the ex-spouse, but with recent changes in your marital status, it’s important to change beneficiaries in the trust and will. It’s highly unlikely that you’d wish to keep them on the will, so entrusting your possessions to another loved one or your child would be the best route to follow. Other accounts such as:
- Savings Accounts
- Life Insurance Policies
Are all crucial beneficiary changes that must be made in the near future.
Why Choose Our Probate Attorneys in McAllen?
There is not a case that we haven’t come across. Our years of legal experience have helped shape our legal strategies in being tactful, smart, concise, and aggressive. Not only do we work with divorces, and probate court cases, but are experienced in handling contested wills! Choose our probate attorneys in McAllen today.
Contact Our Legal Team Today
Although divorce is common, it does get easier to deal with. Our probate attorneys in McAllen can help clarify and resolve details in all aspects of the divorce process. For more information on divorce click here and contact us for a free consultation.