Your spouse asks you for a divorce. Later that day, while you're at home waiting for the kids to get back from school and your spouse is at work, you start wondering how you should approach this. Do you just tell the kids about the divorce by yourself as soon as they get home, or should you wait for your spouse?
Should you tell your kids about divorce alone?
Estate planning considerations during a divorce
Estate planning is an ongoing process, not something you do once and forget about. When major life events happen, like a spouse filing for divorce, you will want to revisit and update your estate planning documents to ensure they reflect your current wishes.
One downside of an educational trust with a general pot
When creating an educational trust for multiple heirs -- three grandchildren, for instance -- people will sometimes elect to put all the money into the same "pot." They just set up a general fund and all three heirs are allowed to take the money out and use it for college-related expenses.
