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What estate planning issues face newlyweds?

If you and the one you love are approaching marriage, or recently married, you have some very important legal steps to consider. Estate planning may already be on your radar, but by the time you marry your spouse, it is time to start putting plans into action to create a safer, more prosperous future together.

Some of these matters are more or less formalities, such as legally changing names, if that is something you or spouse plan to do. Whichever direction you choose to go with your or spouse's name change, it is wise to take stock of all the different areas of your life that may be affected by a name change and update these at the same time, to avoid confusion or conflicts later on.

If you do not yet have life insurance, now is the time to look into a policy. However, simply obtaining a life insurance is not the last step in providing for the one you love if you pass away. To truly make the most of a life insurance policy, you may want to consider placing it in a trust.

If you do not have a will, you should create one. Wills help make your end of life wishes known and help streamline the probate process when you pass away. Joining lives together with another person is more complicated now than ever, so it very important for you and your spouse to each have a full understanding of the issues at stake in your estate plan and will.

Creating an estate plan is an important part of protecting the ones you love and establishing how you want your legacy to live on. An experienced estate planning attorney can help you walk through each step of the process and ensure that you enjoy all the protections available to you.

Source: Findlaw, "We Do: 4 Important Newlywed To-Dos," accessed Sep. 22, 2017

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