Did you just tie the knot? Congratulations to you both.
Once you and your spouse are finally married, you probably want to relax and enjoy each other’s company. This is especially true after dealing with months of wedding planning.
This is an exciting time in your life, but there are important issues that you should handle. As newlyweds, you need to begin to put an estate plan into place. It can be stressful and upsetting having to think about disability or death, but it is important that an estate plan is created so that if one of you dies, the other is cared for and life unfolds as you would wish, under the circumstances. Consider the following questions:
- What will happen if your spouse becomes disabled?
- What would happen if your spouse died tomorrow?
- Who will help to provide financial care after your spouse dies?
- How will you pay off debts?
- Do you or your spouse have funeral instructions outlined?
- What happens if you become disabled or die?
With the help of an experienced and qualified estate planning attorney, you and your spouse can have a proper plan in place so that you are both prepared for the unexpected. Estate planning is an important investment of your time.
Below are some ways in which estate planning can help you and your spouse:
- Prepare for medical emergencies
- Appoint your spouse to make important medical and financial decisions if you are unable to
- Choose who will receive your assets after you die
- Provide for your loved ones after you die
- Outline funeral arrangements ahead of time
- Plan property ownership so that it is transferred appropriately after death
- Prevent problems with children from prior relationships
If you have questions about estate plans or the need for estate planning, consult with an experienced and qualified estate planning attorney.