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Shannen Doherty’s passing in July 2024 highlights the importance of estate planning during divorce. Known for her roles in Beverly Hills, 90210 and Charmed, Doherty ensured her assets were protected by finalizing her divorce just before her death.
The Importance of Timing
A day before her passing, Doherty filed for an uncontested divorce, securing her estate, including a $6 million Malibu home. Had the divorce remained unfinished, her husband could have claimed a significant portion under community property laws, leading to potential legal disputes.
Common Estate Planning Mistakes
Delaying Beneficiary Updates: Divorce doesn’t automatically remove an ex-spouse as a beneficiary. Review financial accounts and insurance policies to align with your wishes.
Overlooking Digital Assets: Update access to online accounts, cryptocurrency, and digital records to avoid loss.
Neglecting Incapacity Planning: Reassign power of attorney and healthcare proxies to trusted individuals.
Making Emotional Decisions: Rash changes may lead to legal complications. Consult an expert for guidance.
Protecting Your Assets
List Your Assets: Document property, finances, and digital holdings.
Update Beneficiaries: Ensure designations match your current wishes.
Establish a Life & Legacy Plan: Secure your assets and designate responsible decision-makers.
Secure Your Legacy
Proper estate planning during divorce prevents legal conflicts and protects your assets. Take proactive steps to ensure your wishes are honored, just as Shannen Doherty did.
This article is a service of The Ambitious Legacy Firm. We do not just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That's why we offer a Legacy Planning Session, during which you will get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by using the link below to schedule a call with our Client Services Director, who will be able to guide you on scheduling your Legacy Planning Session, or by emailing us at legacy@franco-lawfirm.com. Mention this article when you contact us to find out how to get this $750 session at no charge.
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