High divorce rates among older couples complicate estates

High divorce rates among older couples complicate estates

| Oct 21, 2020 | Family Law |

Although divorce rates in general are down in Las Vegas and across the nation, the rate is tripling among those age 55 and over. Many of those divorces are second marriages, which also are posting increasingly higher divorce rates in recent years. When potentially multiple former ex-spouses exist, so do potential complications on future estate planning and divestment. When more than one extended family is involved and significant assets are at stake, the emotions and legal battles can run high.

How second marriages impact estate plans

Nevada family law recognizes the legal claims of former spouses and extended families. That includes the stepchildren and others who are not biological heirs but still might have valid claims against an estate when the benefactor passes on. Other issues complicate estate planning, like whether or not a will is updated to reflect changes in family structure over time. One or more potential heirs might have acted as a caregiver, which might lead to potential claims against an estate.

Updated estate plans help to prevent disputes

The best way to ensure there are no legal conflicts with an estate it so update your estate plan. If your will is outdated, a newly drafted one that passes legal scrutiny and is entered into the record will carry a lot of weight in a probate court proceeding. Legal trusts should be updated so that assets are fully protected by people you trust and the beneficiaries are clearly indicated.

Regular updates as your personal situation changes over time can help to ensure that you have the most important people in your life protected and your assets are distributed as you wish upon your passing. It also can quicken the probate process so that your assets get to those you care about the most as soon as possible and prevent unwanted interference from others. An attorney experienced in Nevada family law can help you to update your estate plan and ensure the best protection for your assets and heirs.