You may have discovered that, with most divorces, regardless of how simple or complex they become the final decree brings a feeling of relief and a sense of completion.
Unfortunately, the dissolution of your marriage, even after a division of assets, may not necessarily mean your finances are permanently resolved, particularly when it comes to the proceeds you wish to leave your loved ones.
Remember your previous joint financial arrangements
As a caring, responsible person, it is quite likely that, prior to the dissolution process, you made provisions for your dependents, close family members and perhaps institutions such as your church, alma mater or other concerns dear to your heart. It is tempting to assume going forward that those arrangements will remain intact to fulfill your final wishes. Unfortunately, that is not always the case.
Take the necessary precautions
There are several safeguards you may want to take even after your divorce is final. The simplest of these is verifying that your life insurance policies, trusts and similar financial instruments are clearly established and legally valid in terms of beneficiaries.
Examine the specifics of your will
Suppose at the time of your death, you have a retirement account you intended to go to a certain beneficiary. If this is not clearly spelled out in your will, others may contest the dispensation of those funds.
There are also Louisiana and federal laws that come into play regarding the disbursing of funds if they are not specifically accounted for in a will. Lack of clear intent can contribute to your estate experiencing a lengthy probate process.