What Happens To Your Estate Plan After A Tampa Divorce?
You spent time and money putting together a Tampa estate plan that protects your family, but now your marriage is ending. One of the questions people often ask during a Hillsborough County divorce is what happens to those documents now.
The short answer is that Florida law handles some changes automatically, but not all, and the gaps left behind can cause serious problems down the road. Our experienced Tampa divorce lawyer explains what changes, what doesn’t, and what you need to fix.
Updating Your Estate Plan: What Florida Law Changes Automatically After a Tampa Divorce
Creating an estate plan in Tampa is not a “one and done” deal. It’s important to update it periodically to reflect changes in your assets, relationships, or other factors. Divorce certainly falls under this category, but Florida law offers divorcing spouses some built-in protection.
Automatic revocation statutes that take effect once your divorce is final include:
- Under Florida Statute 732.507(2), any provision in your will that benefits your former spouse becomes void.
- Under Florida Statute 765.104(2), your former spouse’s designation as your health care surrogate is revoked automatically.
- Under Florida Statute 732.703, beneficiary designations on many non-probate assets, including life insurance policies and payable-on-death accounts, are voided.
- Under Florida Statute 709.2109, your spouse loses authority to act as your agent under a durable power of attorney as soon as you file for divorce, not just when the divorce is final.
- If you and your spouse owned real estate as tenants by the entirety, the divorce converts that ownership to a tenancy in common, meaning your share no longer passes automatically to your ex.
While these protections are meaningful, they only go so far. Employer-sponsored retirement plans, which are governed by federal ERISA law, are an important exception.
Changing Your Tampa Estate Plan During Divorce
Even when certain provisions in your estate plan change automatically after a Tampa divorce, it could leave other documents fragmented. Areas where you may need to make changes include:
- Your will may be valid, but it may point to outdated alternate beneficiaries or name no alternate at all, which can send assets into probate without clear direction.
- Your revocable trust needs to be formally amended, since automatic revocation removes your ex but does not fill those roles with anyone new.
- Life insurance policies and retirement accounts not covered by Florida’s automatic revocation rules require you to submit updated designation forms directly to each financial institution.
- If you named your former spouse as guardian of your minor children in your estate plan, that designation warrants a careful review.
Waiting to address these gaps is a gamble. Unfortunately, the consequences fall not on you but on the people you are trying to provide for.
Contact Our Experienced Tampa Divorce Lawyer Today
Getting a Tampa divorce changes your life in many ways. To ensure estate planning documents continue to protect both your assets and loved ones, contact Bubley & Bubley, P.A. Our experienced Tampa divorce and estate planning lawyer provides trusted legal guidance during this difficult time. Request a consultation today.
