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Estate Planning:
It is critical that a party to a divorce proceeding reconsider his or her estate planning. This would include, by way of illustration, preparing a new Will or revoking any Power of Attorney or Trust Agreement.
You will also want to consider severing any property held in joint tenancy between you and your spouse. The feature of joint tenancy is the right to survivorship, which means if one spouse dies, the other spouse by operation of law succeeds to total ownership of the property, even if the decedent had a Will to the contrary. For example, if you die, your spouse would become full owner of all property held in joint tenancy, regardless of the terms of your Will. Of course, the same is true if your spouse dies.
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