The Estate & Asset Protection Law Firm Founder, Victoria L Collier, Talks About An Uncommon Yet Very important Member Of Any Divorce Proceedings.
Estate & Asset Protection Attorney, Victoria Collier talks about the importance of having one’s own estate planning attorney when going through divorce and mentions some of the serious and unintended consequences that she has seen happen as a result of not having one.
DECATUR, GA, June 30, 2020: Victoria L. Collier, founder of The Estate & Asset Protection Law Firm, has posted a new article on her law firm’s website entitled “The Importance Of An Estate Planning Attorney During Divorce.” Ms. Collier acknowledges how an estate planning attorney looks for any gaps that might prove detrimental in divorce settlements.
Collier writes, “If you have been seriously considering divorce but didn’t take action before the COVID-19 pandemic struck and prior to the social unrest that is deepening the economic stress throughout the country, everything could be different now.” She acknowledges, “Divorce is never easy, and it can become more painful in the midst of economic decline.”
“However,” Collier states, “if you have decided to move forward with your divorce, or when you do, there are many things that must be taken into consideration. Most people are aware of the obvious things especially if young children are a factor. On the other hand,” says Collier, “if you’ve been married a long time, you and your spouse may have forgotten about legal plans you might have drawn up years ago. Or you may be retired and need to address estate planning anew in light of the divorce.”
Collier says, “I have actually had cases in which an ex-spouse has died, and the beneficiary designation on the divorced couples’ estate plan had never been updated.” She continues, “In these types of cases, the living ex-spouse is still named as beneficiary and can legally inherit the assets. Of course, this typically leads to litigation and very serious unintended consequences.”
According to Collier, “An Estate Planning and Asset Protection Attorney is often the most important part of your divorce team. You don’t want to trust the important financial aspects of divorce to a divorce lawyer.” She explains, “They have very different concerns.”
As Collier points out, “An Estate Planning Attorney can review the divorce settlement and look for any gaps. Are you protected from state and federal estate taxes? What’s the impact of divorce on retirement account beneficiaries? Are you and your heirs adequately provided for in the event of your ex’s death? What about your wishes for the children if you pass away while they are still young? “
The entire article can be read at https://www.elderlawgeorgia.com/blog/the-importance-of-an-estate-planning-attorney-during-divorce/
About The Estate & Asset Protection Law Firm
The Estate & Asset Protection Law Firm was established to serve the legal needs of retiring citizens. The Firm focuses its entire practice on providing strategies to protect independence, privacy, assets and taxes from the government. Victoria Collier has grown her law practice and financial services practice by providing excellent customer satisfaction with personalized wealth protection plans.
About Victoria Collier
Victoria L. Collier, CELA founded The Estate & Asset Protection Law Firm to serve the legal needs of retiring individuals. Victoria is also Co-Founder of Red Feather Financial. At both firms WE BELIEVE that people should not have to lose everything they’ve worked a lifetime to earn and that every person is an individual who deserves respect and the highest quality of life possible, regardless of age or ability. We also believe that privacy and protection are the keys to personal peace.
Victoria enlisted in the U.S. Air Force during Desert Storm, 1989-1995, and also served in the U.S. Army Reserves, 1Lt. 2001-2004, JAG Corps. Victoria is a national expert on the VA Wartime Pension for veterans and their widows who need additional assistance with activities of daily living and helping them qualify for and receive tax-free income from the VA to pay for it. Victoria graduated from Valdosta State University with a B.A. in Psychology and then University of Nebraska, College of Law. In 2014, Victoria was awarded with the Alumni Master Award from the University of Nebraska.
Victoria is a Certified Elder Law Attorney (CELA) through The National Elder Law Foundation and has been named as the only attorney in Georgia as “Fellow” of the National Academy of Elder Law Attorneys (NAELA). Victoria was appointed by Governor Perdue to the Georgia Council on Aging, 2010 – 2016 and was awarded Dekalb County Veteran of the Year, 2013. She is the author of 47 Secret Veterans Benefits for Seniors; Paying for Long Term Care – Financial Help for Wartime Veterans: The VA Aid & Attendance Benefit. Victoria has co-authored several books: Blooper Episodes in Estate Planning, Don’t Go Broke in a Nursing Home, and Protect Your IRA: Avoid the 5 Common Mistakes. Most notably, Victoria co-authored the National Best Seller, The Road to Success, with Jack Canfield, author of Chicken Soup for the Soul series.