Fiduciaries and Beneficiaries: Ensuring Alignment with Divorce - with Laura Cowan, Esq.

"Blended families are always a little bit tricky just because you don't have that standard. Everything to the spouse and then down to the kids. And that's just the end of it." - Laura Cowan Laura Cowan, a distinguished attorney and CPA, brings her expertise in estate planning to the forefront, particularly in navigating the intricate transitions that follow a divorce. Having founded her own law firm after a successful career as a CPA, Laura emphasizes the critical need to reassess beneficiary designations post-divorce, as these can override other estate planning documents. She advises individuals to carefully review and update life insurance and retirement accounts to ensure they align with their current wishes, highlighting the necessity of collaborating with a team of professionals—including estate lawyers and financial advisors—to develop a comprehensive plan. Laura's perspective encourages those experiencing divorce to view it as an opportunity for reinvention, urging them to thoughtfully consider their future personal and professional paths to foster growth and fulfillment in this new chapter of life. Key Takeaways: ->Revisiting beneficiary designations is crucial to protecting one's financial legacy after a divorce. ->Updating estate planning documents post-divorce is crucial to ensure that beneficiaries and fiduciaries accurately reflect the individual's current circumstances. ->Consulting with an estate planning attorney before finalizing a divorce settlement is crucial. ->Estate planning can provide individuals with a sense of control and stability following significant life transitions like divorce. ->The integrative nature of divorce affects various aspects of life including estate planning, financial planning, and parenting plans. ->Attorneys can create a more fulfilling and effective approach to practicing law by prioritizing client needs over traditional metrics of success. Connect with Laura Cowan, Esq: https://www.2hourlifestylelawyer.com/ https://www.linkedin.com/in/thelauracowan/ Connect with Katherine Miller: https://www.linkedin.com/in/kemiller1/ https://miller-law.com/