Your Last Will & Testament; Change of Deeds & Titles

The Probate Code provides that a dissolution of marriage revokes any provision in a will or living trust that transfers assets to the former spouse, unless the will or trust specifically says that its provisions will remain in effect after the marriage is terminated.

Because your marital status will be changing in the near future, you should consider having a Last Will and Testament or a Living Trust drafted to reflect what you would like done with your assets should you die. Also, if you already have a Last Will and Testament or a Living Trust, you should consider having it amended or replaced by a new one. If this is your desire, Mr. Rabenn can refer you to an attorney who is experienced in estate planning.

If you own any assets, such as real estate, automobiles or bank accounts as joint tenant with your spouse, you should consider changing the deed, title, or other statement of ownership immediately. The law provides that if a joint tenant dies, the surviving joint tenant gets the entire asset. This means that should you die, your spouse would get any asset in which he or she is indicated as your joint tenant, although you are going through a dissolution of your marriage. Please advise Mr. Rabenn if you would like any such changes made.