Does My Family Lawyer Need to Talk to My Estate Planning Lawyer in a Divorce?
There is no question that lawyers are not all cut from the same cloth. Some attorneys specialize in family law, while others focus on personal injury cases. The law is complicated and includes multiple different facets. Someone who works primarily on defending accused criminals shouldn’t represent a client trying to file a medical malpractice case. What does this have to do with divorce? Plenty.
At Kessler & Solomiany, LLC, we want your family law matter resolved favorably. Our attorneys strive to provide honest and upfront answers to some of the most common divorce-related questions we encounter in our practice. One of those questions revolves around involving family lawyers with estate lawyers. Here’s what you need to know:
Do My Lawyers Need to Talk to Each Other When I’m Divorcing?
The quick answer is yes, your estate planning attorney and your family law attorney should be in contact with one another for multiple reasons. First, your attorney needs to understand your complete financial standing to fairly estimate what you deserve in a divorce settlement. To do this, they need access to all your finances and your partner’s. While you may keep meticulous records about your assets and debts, your estate planning attorney will have the information your family law attorney needs about your family’s assets, insurance plans, retirement accounts, and property holdings. This financial information is crucial for helping to estimate potential alimony or child support payments.
Remember, attorneys are nothing if not resourceful. Preventing a family law attorney from talking to an estate planning attorney does not mean you are effectively hiding assets. If you are concerned about your financial situation and how it may be impacted by a divorce, share those concerns with your family law attorney.
Second, a divorce settlement can have an impact on your estate. Your estate planning attorney needs to be kept in the loop by you and your family law attorney. This way, your estate planning attorney can respond to changes in your assets, insurance beneficiaries, and retirement and property holdings. With this vital information at hand, your estate planning attorney can help you transition and create a new plan that meets your future goals.
A divorce may also impact your taxable estate. If your estate planning attorney is in contact with your family law attorney, it can help them prepare a plan for when you no longer have the benefit of certain tax exemptions.
Again, family law is different from estate planning law. You want attorneys experienced in each field to help you manage your situation. With the input of both attorneys, you can better understand and adjust to the changes that a divorce can bring to your financial standing.
Do I Need an Estate Planning Attorney and Family Law Attorney?
It is wise to have a separate attorney addressing your estate and your divorce. Often, an estate planning attorney knows or represents both partners in a marriage. An estate planner can be your best friend in the world, but they may potentially have a bias towards either you or your spouse. Let your family law attorney interact with your estate planning lawyer. During the divorce, you may want to consider talking with a new financial advisor or accountant about your situation. This independent advisor will have no “skin in the game,” so to speak, and can offer you objective financial advice because they don’t know your partner.
After the divorce is finalized, you can consider your estate planning options and decide how you want to address your future needs. You may wish to utilize the experience of your current estate planning attorney, or you may choose to find a new consultant depending on your goals and relationship with your ex-spouse. This is another reason why it may be wise to consider including a third-party accountant or financial advisor on your team. They can help you manage your finances in the interim while you pursue an estate planning path that makes you feel comfortable.
Get in Touch with an Experienced Family Law Attorney Today
Have more questions about divorce or how estate planning can impact your separation? Reach out to the experienced Atlanta divorce attorneys of Kessler & Solomiany, LLC today. We’ll take a proactive approach to help you resolve your case. We want to see you and your family achieve a favorable outcome, even when difficult circumstances are at play.
Call our office at (404) 688-8810 to set up a confidential consultation. We offer upfront and honest legal advice about your situation and will aggressively represent you.