In Tomorrow We Trust
| Author | Daniel B. Finch, David E. Holm |
| Pages | 32-34 |
32 FAMILY ADVOCATE www.shopaba.org
In Tomorrow We Trust
By DANIEL B. FINCH AND DAVID E. HOLM
William was the one who had been unfaithful to
Marcy, William’s siblings sided with William through-
out the divorce. In fact, William’s sister, Anastasia,
testied against Marcy at a temporary custody hearing.
eir divorce was nalized in December 2017, and
William remarried in May 2018. Fortunately, Marcy
was close to her mother and siblings and they were
very supportive of her during her divorce.
In Marcy’s separation agreement, William waived all
his estate rights, including rights to Marcy’s retirement
and insurance benets. Marcy was very busy after the
divorce, managing her full-time job and mothering her
twins four days a week. She had not made time to
meet with an attorney to update her estate planning
documents. She also had not made time to update the
beneciary designations on her IRA and her private life
insurance policy.
Tragically, Marcy’s vehicle was hit by a distracted driver
on August 5, 2018. Fortunately, the twins were not in
the car with her at the time of the crash, but Marcy
was severely injured and spent 20 days, mostly
When divorce happens, it can be
unpleasant. e failure to update
estate planning documents and
make simple updates to bene-
ciary designations can turn an
unpleasant situation into an
unmitigated disaster. Many people put these tasks o until
tomorrow, but sometimes tomorrow never comes. e
default rules vary wildly by state, and often result in breath-
taking outcomes. e good news is, such disasters can be
easily avoided with a proactive approach and the correct
estate planning documents.
Consider Marcy’s hypothetical stor y.
Marcy was devastated. She and her husband, William,
had been having some marital issues after she discov-
ered that he was using drugs recreationally. When she
found out he was also having an aair, it was the nal
straw. After learning of William’s indelity, she went
through a brutal separation and divorce. Her attorney
negotiated a favorable separation agreement, including
primary custody of her twin nine-year-old daughters,
alimony, and postseparation support. Even though
Published in Family Advocate, Volume 43, Number 1, Summer 2020. © 2020 by the American Bar Association. Reproduced with permission. All rights reserved. This information or any portion thereof
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