Estate Planning After Divorce: Eido Walny Offers Key Guidance in Legal Journal Feature
Originally published in Wisconsin Journal of Family Law, Vol. 34
In a featured article titled “Estate Planning in the Wake of a Divorce,” Eido M. Walny, founder of Walny Legal Group LLC, outlines the critical—but often overlooked—steps individuals must take to protect their estate following the dissolution of a marriage.
Walny warns that divorce introduces significant legal risks to estate plans if updates aren’t made immediately. While Wisconsin statutes (such as §854.15) attempt to revoke a former spouse’s authority or beneficiary status, Walny cautions clients not to rely on legal defaults alone.
Key risks include:
- Outdated beneficiary designations on life insurance or retirement accounts can legally override your current wishes—even after divorce.
- Health and financial powers of attorney may still be enforceable if institutions are unaware of the divorce.
- ERISA-governed accounts like 401(k)s can still distribute assets to a former spouse if the documents haven’t been updated.
Walny urges divorce attorneys and their clients to take a proactive approach: revise estate planning documents during the divorce process—not after. “Raise this issue before the divorce is finalized,” he writes, “and reinforce it in the closing letter.”
He also addresses how to handle irrevocable trusts post-divorce, suggesting options such as non-judicial settlements or judicial petitions when cooperative updates are no longer possible.
Full article available at:
Wisconsin Journal of Family Law – Estate Planning in the Wake of a Divorce
By Eido M. Walny, WJFL Vol. 34 | Published June 2015