High U.S. divorce rate and lack of estate plans reveal critical gaps in post-divorce planning

News provided by

GoodTrust

Dec 06, 2023, 16:18 ET

  • There are 1.99 million marriages in the US annually, and 50% end in divorce.
  • 67% of adults lack an estate plan highlighting a gap in the implications that occur post-divorce.
  • Estate planning laws vary by state, emphasizing the need to update plans for new circumstances.

MENLO PARK, Calif., Dec. 6, 2023 /PRNewswire/ -- Divorce is a significant life event that brings about a series of legal and financial changes. With 1.99 million marriages in the US each year and a 50% divorce rate, coupled with the fact that estate planning laws vary from state to state, individuals often find themselves needing to revise or establish an estate plan that aligns with their new personal and financial situations. GoodTrust and Divorce.com have recognized this need and have joined forces to offer a solution for individuals to navigate the estate planning process efficiently and effectively, ensuring compliance with state-specific legal requirements.

"Divorce can be a challenging and overwhelming experience, and many people may not consider the impact it has on their estate plans," said Rikard Steiber, Founder and CEO of GoodTrust. "Through our partnership with Divorce.com, we're providing a user-friendly service for individuals to address estate planning after divorce, ensuring their wishes are respected, and their assets are distributed according to their updated preferences."

GoodTrust provides a modern digital platform for organizing digital assets, end-of-life preferences, and estate distribution plans securely. Partnering with Divorce.com expands these services to post-divorce individuals seeking guidance.

"We are excited about the possibilities that this partnership opens up for our users," said Ken Friedman of Divorce.com. "Divorce.com is committed to helping individuals navigate the challenges of divorce comprehensively, and addressing estate planning is a crucial component of that journey. Our collaboration with GoodTrust ensures that individuals have access to the tools they need to update their estate plans with confidence."

The partnership will provide Divorce.com customers with a seamless transition to the GoodTrust platform to efficiently manage digital assets, update beneficiary designations, and outline distribution preferences. User-friendly interfaces and educational resources will ensure ease in making informed decisions. This collaboration signifies a shared commitment to simplifying complex processes during life transitions, offering holistic solutions to individuals navigating divorce and subsequent estate planning.

About GoodTrust:
GoodTrust is a leading digital estate planning service that empowers individuals to protect their family, assets and finances effortlessly.

About Divorce.com:
Divorce.com is modernizing the divorce process by offering a comprehensive and convenient platform that supports conflict resolution, provides assistance with filing, and connects individuals with divorce experts and resources.

For more information about GoodTrust and its digital estate planning solutions, visit www.MyGoodTrust.com.

For more information about Divorce.com visit www.Divorce.com.

SOURCE GoodTrust

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