Divorce and estate planning are often related. If one major aspect in your life changes, your estate plan must follow suit. Getting a divorce can trigger certain statutes in Georgia that can directly impact your estate documents, especially your will.
Understanding the predeceased rule
Under Georgia law, the courts treat your spouse as if they predeceased you. This means that any provisions that favor them are automatically revoked.
However, this only applies once the judge issues a final decree on your divorce. If you pass away while the divorce is still pending, your partner could still inherit your entire estate.
Maintaining the status quo
If you own stocks, real estate and private equity, these assets could be at risk. Your spouse might try to sell these off quickly and move millions of dollars from your account into theirs before the divorce is over.
Upon the filing of a divorce petition, the court clerk issues an Automatic Domestic Standing Order. This order immediately restrains both parties from selling, encumbering, or dissipating marital assets until the court reaches a final decision.
Protecting your legacy
If you are considering divorce, understand that you might face multiple steps to protect your future. The predeceased rule only applies to your will. It does not remove your ex-spouse from life insurance policies and other non-probate assets. You must update your beneficiary designations with each financial institution.
While taking proactive action is a must, you need to have reliable strategies that protect you and your legacy during divorce. Seeking legal guidance would be wise to learn more about your options based on your unique circumstances.