Divorce: Who gets the advisor?

Divorce: Who gets the advisor?

Divorce: Who gets the advisor?

The services comes of particular importance and highlights a growing need for advisors to specialize in divorce planning or better tailor their services to handle splits between clients.

Holjevac case study:

A young woman who left her boyfriend after taking a job in New York at a law firm. The pair tried a long-distance relationship that later fell apart after a year in New York.

She moved on, met a man named Jeff and got pregnant soon after. Unfortunately, the young woman died three months post-birth after a tumour was found in her ovary.

Because the woman lived in the U.S., it took longer to settle her estate, according to Holjevac. The woman’s mother, one day, receives a $75,000 U.S. as part of a life insurance policy but instead of half the funds going towards Jeff and her grandchild, the money instead went to her ex-boyfriend.

“This story should serve as a reminder for all of us to be more diligent in keeping our will current and also the all-important beneficiary designations updated, particularly after major life events such as marriage, divorce, death and births,” she said.

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1 Comments
  • Lynda Weinrib 2015-03-17 11:05:02 AM
    I have had couples divorce and kept both as clients with provisos - each had to be "kind" to the other and the children of their union were not to be told (in any way) that the other parent was "bad". I have not had problems in dealing with either member of each couple, or their children.
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