Will

Updating Your Will After Divorce in New York What to Change This October

Posted on by Jean Mahserjian
Divorce is a significant life event that can alter many aspects of your personal and legal life. One critical area that often goes unnoticed during or after a divorce is estate planning — particularly updating your will after divorce. If you’re going through a divorce in New York, now is the time to revisit your will and other essential documents. Failing to update your will, Power of Attorney (POA), beneficiaries, and property deeds can result in unintended consequences. Whether you’re looking to ensure your wishes are respected or simply protect your assets, it’s important to make these updates this October.

Updating Your Will After Divorce Updating Your Will After Divorce in New York What to Change This October

When a marriage ends, the terms in your will that involve your ex-spouse may no longer align with your intentions. In New York, any will made prior to the divorce remains valid until updated. However, your ex-spouse may still be listed as a beneficiary or the executor, which could complicate matters should something happen to you. To avoid confusion and ensure that your wishes are honored, you should immediately revise your will after a divorce. New York law dictates that certain provisions, such as those involving your ex-spouse, are automatically revoked after a divorce, but you’ll need to take active steps to update other provisions. This includes revising your estate distribution, selecting new executors, and confirming that your assets are correctly allocated.
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Changes to Your Power of Attorney (POA)

A Power of Attorney (POA) allows someone to manage your finances or make medical decisions for you in the event that you are unable to do so. If your ex-spouse is currently named as your agent in your POA, this is one of the first documents that needs to be updated after your divorce. By updating your POA, you ensure that your finances and medical decisions will be handled by someone you trust, whether that’s a family member, close friend, or even an attorney. Without this change, your ex-spouse could have legal authority over your healthcare and financial decisions, something many individuals prefer to avoid following a divorce.

Updating Beneficiaries in Your Financial Accounts

A crucial step in post-divorce estate planning is ensuring that all beneficiary designations are up to date. Many people overlook the fact that financial accounts such as life insurance policies, 401(k)s, IRAs, and other retirement accounts often have designated beneficiaries that may still be linked to your ex-spouse. If you want your assets to go to your children, a new partner, or other loved ones, you need to update these designations. In New York, it’s essential to remember that financial institutions do not automatically update these designations based on your divorce. You must contact each financial institution directly and update your beneficiary details. Failure to do so could result in your ex-spouse receiving funds from accounts, even if your divorce agreement specified otherwise.

Changing Property Deeds and Titles

Divorce can impact how property is titled, and as part of the divorce settlement, real estate may be transferred between spouses. Whether you are keeping the marital home or transferring ownership to your ex-spouse, it’s crucial to update property deeds and titles to reflect the new ownership structure.

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 In New York, property division is governed by the concept of equitable distribution, which means the court will divide marital property fairly but not necessarily equally. After your divorce is finalized, be sure to revisit the deeds for any real property you own. This includes updating titles on homes, vacation properties, cars, and other valuable assets. Your attorney can help ensure that all documents are correctly executed to finalize these changes.

Review and Revise Your Health Care Proxy

If your ex-spouse is currently listed as your health care proxy, this document should also be revised post-divorce. A health care proxy allows someone to make medical decisions on your behalf if you are incapacitated. After a divorce, most people prefer to have a trusted friend, family member, or new partner as their health care proxy. Updating this document ensures that the person you want making medical decisions for you in an emergency situation is someone you trust and who aligns with your current personal and legal circumstances.

Guardianship for Minor Children

For parents with minor children, one of the most important considerations after a divorce is who will serve as the guardian of your children in the event of your death. New York law allows you to designate a guardian in your will, and it’s essential to update this designation after a divorce. If your ex-spouse was previously named as the guardian, you will need to update this provision. This is particularly crucial if you have remarried and want to ensure that your new spouse or another family member takes on the role of guardian. Discussing guardianship with the person you wish to appoint is also important to make sure they’re willing to take on the responsibility.

Revising Trusts and Other Estate Planning Documents

In addition to updating your will, POA, and beneficiaries, you may need to revisit other estate planning documents like trusts, living wills, and any other advance medical directives you have in place. Trusts are particularly important because they often hold assets that could be transferred to your beneficiaries without going through probate. If you created a trust during your marriage, you’ll need to ensure that your ex-spouse is removed as a beneficiary or co-trustee, and that your assets are directed to the intended heirs.

Why You Should Consult an Attorney

Although updating these documents may seem straightforward, estate planning can be a complex area, especially after a divorce. Revising your will, health care proxy, POA, and other estate planning documents requires careful attention to detail to ensure that everything is legally sound. It’s highly advisable to consult with an experienced estate planning attorney who can help you navigate these changes. An attorney will ensure that all of your legal documents are properly executed, that your assets are protected, and that your wishes are clearly stated. Divorce doesn’t just affect your personal life—it impacts your estate planning as well. Updating your will, POA, beneficiary designations, deeds, and guardianship provisions is a critical step in ensuring your wishes are respected. In New York, this October, take the time to revisit your estate plan and make any necessary changes. Mahserjian & Mahserjian-Ortiz, PLLC can assist you with the legal aspects of updating your will and other important documents.

To learn more about this subject click here: Spousal Support (Alimony) in Uncontested Divorce: What to Know in NY

Jean Mahserjian