A Long Island estate planning lawyer helps newly married couples to make an estate plan that takes their needs as a family into account. Once you are married, you now have someone who is depending upon you and who you need to make sure you take care of and protect. Making the right estate plan is a key part of being a responsible spouse so you can ensure that your husband and wife will not face any legal hardships and complications if something happens to you and they are forced to cope with your illness or your death.
Mark S. Eghrari & Associates PLLC can provide assistance with taking the right steps to protect your husband or wife once you have gotten married. We will guide you through the estate planning tools you can use to address end of life issues and life after death so your spouse is provided for and secure even if something happens to you. Give us a call today to find out more about how a Long Island estate planning lawyer can help.
Estate Planning Steps to Take After Marriage
After you have gotten married, some of the key estate planning steps that you may wish to take include:
- Adjusting your will: You may want to leave some or all of your assets to your new spouse. Leaving money to a spouse can help you to avoid estate tax and, of course, you may simply want your spouse to inherit the wealth you have worked to build together. While intestacy law and laws allowing a spouse to take a statutory share of your estate can ensure your spouse inherits at least some of your assets, it is up to you to make an estate plan if you want to have more control of how much your husband or wife will inherit from you.
- Preparing advanced directives: You may want your spouse to be in charge of making medical decisions for you and managing your assets in case something happens and you become incapacitated. On the other hand, you may not want your spouse in this position. When you make advanced directives such as a living will and when you name a power of attorney for healthcare, you can express your preferences both for the kind of care you want and for who should make care choices when you cannot.
- Purchasing insurance: If your spouse is counting on your income to pay the mortgage or provide for your kids, you want to ensure that your husband or wife will not face serious financial hardship if something were to happen to you. Purchasing an appropriate amount of life insurance and choosing the right type of policy can be very important once someone is counting on the income you bring in.
- Making a plan to transfer wealth quickly to your spouse: If your spouse depends upon your income to make ends meet, your death could be a big financial problem because it takes time to get an inheritance or for an insurance policy to pay out. There are ways to transfer assets quickly outside of the probate process and these should be considered if you have concerns about what would happen to your spouse financially if you unexpectedly passed away.
Mark S. Eghrari & Associates PLLC can help with all of these issues and many more. We can work with you to define your goals for your future and for how you want to care for your spouse in case something happens to you and we can take steps to put the right tools in place so your goals can be accomplished.
Getting Help from A Long Island Estate Planning Lawyer
Mark S. Eghrari & Associates PLLC can provide help to married couples and to others who have gone through life changes including divorcing or having a child. Whatever your situation, our legal team will work with you to create a personalized estate plan that is right for you. We can advise you on all of the steps that you should take and can help you to make effective use of all legal tools available to you under New York law to make a comprehensive plan that protects your spouse, your other loved ones and your legacy.
To find out more about how a Long Island estate planning lawyer at our firm can assist you with the creation of a plan, join us for a free seminar. You can also give us a call at (631) 265-0599 or contact us online to get personalized advice that is right for your family situation. Contact us now to find out more.