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Wills and estates planning for older, divorcing couples

Over the last few years, more senior couples have been divorcing. This has had implications on these couples' wills and estates plans. Even when British Columbia couples divorce, most will want to ensure they leave assets to loved ones, particularly any adult children they may share. If children are a part of a family business, estate planning in these instances, are particularly important. When it comes to the dynamics, the divorce part is easier than the estate planning part in a grey divorce scenario.

Property or land could come into play since a divorced couple can continue to own property together if they so choose. There is no cookie cutter mold in these instances. A divorcing or separating couple has to decide how their estate plans should look based on their individual situations. 

If couples do decide to keep joint assets, each should have new wills drawn up for their independent estate plans. If a couple can't decide what to do with the assets they own jointly, a court will decide for them, so if a couple wishes to retain some control over their estates, coming to a consensus is important. Each should get independent legal advice should they wish to include joint assets in their estate plans.

There are times when estate planning law crosses paths with other legal areas. A British Columbia lawyer who has experience with wills and estates would be someone who would be able to offer prudent advice, especially in unusual circumstances. Estate planning is crucial for all people -- divorced or married, older or younger.

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