Forbes.com recently featured an article we wrote about our celebrity-based Trial & Heirs' Top Five Estate Planning Tips for Divorcees. Here's a shortened version. Go to Forbes.com for the full article:
1. Update your will and/or trust. Life events like divorces are a critical time to update all estate planning documents with an experienced attorney.
Take the case of Gary Coleman. Since his death, a variety of documents have surfaced purporting to be his will. We know that Gary Coleman was divorced in 2008 from his wife, Shannon Price. It was on an episode of Divorce Court after all! The problem is that Price claims that she's entitled to inherit all of Coleman's assets based on a 2007 handwritten will and as his "common-law wife." Now it looks like the estate will be tied up in a long and nasty fight. If Gary Coleman had an estate planning attorney draft a clear will after his divorce, the impending legal battle may have been avoided.