An estate planning lawyer at Mark S. Eghrari & Associates, PLLC will provide you with comprehensive advice on how to create an update an estate plan after you have gotten married. Putting an estate plan in place after a wedding, or updating the plans that you have already created, can be very important.
Marriage has big legal implications regarding who inherits your estate and who is put in charge of assets if something happens and you become incapacitated, and you’ll want to ensure that you understand the standard rules and make any necessary modifications. Marriage also means you may now have a spouse who is dependent upon you to provide financial support, and you need to address this issue as well.
Mark S. Eghrari & Associates, PLLC will work closely with you to help you understand how your marriage could impact your estate planning goals and can help you to put solid plans in place to protect your spouse and your other loved ones. To find out more about how our firm can help you after you get married, give us a call today.
Estate Planning Steps After Marriage
There are many estate planning steps that you might need to take after you tie the knot, although the specifics of the process will vary depending upon your personal situation as well as your goals for your legacy. Some of the steps that you may need to complete include:
- Talking with a lawyer about your goals: Now that you have married, you may want to provide an inheritance for your spouse. Or, you may want to ensure that children from a prior relationship are taken care of even after you pass on. Your goals will be unique to your situation, so talk with a lawyer about what you need your legacy to be.
- Understanding how your marriage impacts your estate plan: When you have gotten married, there are some changes to how the law treats your estate. For example, under intestacy law, your spouse will either receive your entire estate or a large portion of it, depending whether or not you have children from another relationship. There is also a spousal elective share law that allows your spouse to take a portion of your estate even if your last will and testament disinherits your spouse. If you want your spouse to receive more or less than he or she would be allowed under intestacy law or under the spousal elective share, you’ll need to put appropriate legal documents in place to ensure that can happen. If you want someone besides your spouse to manage your estate or to make decisions in case of your incapacity, you will also need to work with an experienced attorney to provide detailed instructions.
- Determining if you need to purchase life insurance: Many people buy life insurance when they get married so they can ensure their spouse is provided for if something should happen to them. Buying life insurance can be especially important if your spouse depends upon your income to pay the bills if you are planning to have children who will need your support.
- Putting a plan in place: You’ll need to use effective legal tools to achieve the goals you have set regarding taking care of your spouse and other family members.
There may also be other things that you need to do based on the nature of the property that you own and your family structure. That is why it is so important to get personalized help with the estate planning process from a lawyer who understands your goals and who knows what legal tools can work to help you achieve them.
Getting Help from an Estate Planning Lawyer
If you have gotten married, divorced, had a baby or experienced any big life changes, Mark S. Eghrari & Associates, PLLC can provide you with the help and support that you need to address those changes and update your estate plan accordingly. It is important that the documents that you have in place to provide for your loved ones and protect your wealth are kept updated to reflect your new realities.
To find out more about the ways in which an estate planning lawyer can provide you with help managing your estate, providing for your loved ones, and controlling your legacy, join us for a free seminar. You can also give us a call at (631) 265-0599 or contact us online to start putting your personalized plans for the future in place.