68. Will Your Ex Get Everything if You Die?
Will Your Ex Get Everything if You Die?
After they separate from a spouse or partner, most people expend considerable effort protecting their financial situation. People want to protect what they have, either for themselves or for their children. They also do not their exes to get more than necessary. Everyone wants their own money that they can use, or give away, free from interference. After separation, nearly everyone is very careful in organizing finances. But, often they are NOT careful in planning for their finances if they die. Unfortunately, that can mean that, even after a long fight, a former spouse can get take much more from the estate than he or she would have gotten through family court – just because the other spouse dies without doing the proper things. En ex-spouse can even take money from the estate at the expense of the children.
In this episode of the Ontario Family Law Podcast, Certified Specialist in Family Law, John Schuman, explains what you have to do keep your ex from getting everything if you die after separation and to ensure your inheritance goes where you want it to go. With concrete examples he sets out the precise steps that every separated spouse should take to preserve his or her estate for loved ones.
Share your experiences with losing money – or coming out ahead, in your separation or divorce to supplement what people learn from this important page.