Life’s major milestones—marriage, divorce, and remarriage—can all have a significant impact on your estate plan. Whether you’re starting a new chapter with a spouse, navigating the end of a marriage, or blending families, it’s essential to ensure your documents reflect your current circumstances and intentions. Understanding how these changes affect your estate plan can help protect your assets, honor your wishes, and provide peace of mind for loved ones.
If your life circumstances have changed, contact Drexler Law through our online contact form or call (719) 259-0050 to review and update your estate plan.
Why Life Changes Require Estate Plan Updates
An estate plan is not a one-time task—it’s a living set of documents that should evolve alongside your life. Major personal events like marriage or divorce can change who inherits your property, who makes medical or financial decisions on your behalf, and even who serves as the guardian of your children. Without regular updates, outdated plans may cause confusion or conflict among family members.
How Marriage Impacts Your Estate Plan
Marriage automatically affects the distribution of certain assets under Colorado law. For example, if one spouse dies without updating their will, the surviving spouse may be entitled to a share of the estate even if the will says otherwise. It’s important to review all existing documents when entering into a marriage, including:
- Wills and trusts: Ensure your new spouse is properly included or excluded according to your wishes.
- Beneficiary designations: Review life insurance, retirement accounts, and payable-on-death accounts to ensure the correct person receives them.
- Powers of attorney: Decide who will make financial or medical decisions if you are unable to do so.
Updating these documents ensures your spouse’s rights and your personal intentions align.
The Effect of Divorce on Estate Planning
Divorce is another event that dramatically changes estate planning needs. Once a marriage legally ends, many people prefer to remove their former spouse from inheritance and decision-making roles. However, some documents may remain valid unless formally changed. Key steps after a divorce may include:
- Creating a new will that reflects your current wishes.
- Changing beneficiaries on retirement accounts, insurance policies, and bank accounts.
- Naming new agents for powers of attorney and healthcare directives.
- Revisiting guardianship provisions for minor children.
It’s also important to remember that Colorado law automatically revokes some—but not all—spousal rights after divorce. An estate planning attorney can help clarify what remains valid and what should be revised.
How Remarriage Complicates Estate Planning
Remarriage brings new considerations, especially when one or both spouses have children from prior relationships. Blended families often present complex inheritance questions, and without careful planning, unintentional disinheritance can occur. For instance, a new spouse could end up receiving assets that were originally intended for children from a previous marriage.
To prevent disputes, consider the following strategies:
- Establishing a trust: This can help ensure that assets are distributed according to your specific wishes while still providing for your spouse.
- Clarifying property ownership: Distinguish between marital property and separate property to avoid confusion later.
- Creating prenuptial or postnuptial agreements: These agreements can outline how property will be divided and protect both spouses’ interests.
A remarriage is also a good time to discuss long-term care, retirement goals, and inheritance expectations with both partners to maintain transparency and fairness.
Key Estate Planning Documents to Review
Regardless of your relationship status, an up-to-date estate plan should encompass the key areas that protect your family and assets. Below are some important documents to review after marriage, divorce, or remarriage:
- Will or living trust
- Financial and medical powers of attorney
- Beneficiary designations
- Living will or advance healthcare directive
- Guardianship designations for minor children
Reviewing these documents ensures that the right people are in charge of your decisions and that your estate passes to the intended beneficiaries.
Common Mistakes to Avoid When Updating Your Estate Plan
Many individuals forget to update their estate plans after life changes, which can lead to unintended outcomes. Some common mistakes include:
- Failing to remove an ex-spouse as a beneficiary on life insurance or retirement accounts.
- Not naming contingent beneficiaries.
- Overlooking digital assets, such as online accounts or cryptocurrency.
- Ignoring state laws that affect inheritance rights.
Taking time to review your documents with a qualified attorney helps ensure your plan stays legally sound and aligned with your current goals.
Working with an Attorney to Update Your Estate Plan
Life transitions can be emotional, and navigating the legal aspects on your own can add unnecessary stress. A Colorado Springs estate planning attorney can guide you through the process, ensuring that your documents meet state requirements and reflect your wishes. They can also help anticipate potential challenges and recommend strategies that protect your loved ones in the long term.
When to Revisit Your Estate Plan
It’s a good idea to review your estate plan every three to five years—or sooner if you experience significant changes, such as:
- Marriage, divorce, or remarriage
- Birth or adoption of a child
- Death of a beneficiary or executor
- Major changes in financial circumstances
- New business ownership or property acquisitions
Regularly updating your plan ensures it continues to support your evolving life and family structure.
Contact a Colorado Springs Estate Planning Attorney for Guidance
Whether you are entering a new marriage, finalizing a divorce, or blending families, your estate plan should reflect your current circumstances. An experienced Colorado Springs estate planning attorney at Drexler Law can help ensure your documents protect your loved ones and your legacy. Reach out through our online contact form or call (719) 259-0050 to schedule a consultation and take the next step toward peace of mind.