Breaking Up, Splitting Up, Dividing Up…Better Have a Plan

Famous couples seem to lead charmed lives filled with big money, fabulous homes, and gorgeous kids. Then suddenly…their divorce is trending, tweeting, and ever so topical! It’s easy to get so tuned in to the awfulness of the split that things get forgotten. Like how the divorce affects the estate, and the assets, of the soon-to-be exes. Back in the day, when Anna Mae Bullock was finally free of her marriage to Ike Turner, their divorce settlement involved her giving him nearly a million dollars, and him paying her nothing. But she got the better end of that divorce settlement: the court allowed her to keep her stage name, Tina Turner. So going forward, she was able to build a successful future. Her assets were hers alone, and whatever happened to her ex-husband was his problem to deal with, not hers. As hard as it can be, when divorce happens, you absolutely should consider the state of your assets and what your current estate plans specify, especially if your ex- is named in those plans, like your retirement funds or life insurance. That’s where Tatiyants Law P.C. can provide guidance, and if you are concerned about issues like asset protection, the sooner we talk, the better. If you would like help with divorce-related changes or for any other estate planning questions, please contact us at 818.956.9200.