Divorce Conversations For Women

Beth Ruthmansdorfer, Attorney with Moertl, Wilkins & Campbell, S.C., joins us to discuss the various ways that setting up authority in your Financial Power of Attorney (POA) is beneficial to you including your business, pets, children, and other assets that you have especially while going through and post-divorce. Assigning authority within your Financial POA is important because it gives you control over where your assets go in the case that something happens to you. The 5 items that every newly divorced woman needs in her POA are:   Beneficiary designations – this is important because if an accident happens and the estate plan is not done yet you need to have your agent have the authority to be able to add the beneficiary on those assets to make sure the plan works (i.e., life insurance and retirement accounts). There is still a lot of clean-up to do post-divorce. You want to make sure your ex-spouse is not listed as a beneficiary on your accounts and assets. Creating and Funding Trusts – making sure t