Once you and your spouse tie the knot, your life will change forever. And since it’s your hope that you remain united for the rest of your life, it’s important to create an estate plan with this in mind.
If you created an estate plan before marrying, you’ll need to make some changes to ensure that it suits the both of you moving forward. Here’s what you should think about:
- Update your will: For example, you probably didn’t have your spouse named as your beneficiary before you were married. However, now that you’ve tied the knot, it’s an important move to make.
- Update your living will: When it comes to end of life health care, a loved one may be staffed with the task of making tough decisions on your behalf. With a living will, you can outline the type of care you want to receive, should you be unable to express your feelings. Giving your spouse the ability to make key decisions is important.
- Review life insurance policies: If you have a life insurance policy, consider who you want to name as your beneficiary. Most people choose their spouse, but you need to do more than think about it. You need to make the change legal by contacting your insurance company. If you neglect to do this, someone else could end up with your death benefit.
These are far from the only estate planning modifications to make after marriage, but they should give you a clear idea of how you should be thinking. Even though it’s not something you want to do, it’s responsible to review your plan and make changes that suit the two of you.
If you need any help with this process, contact our law firm. One of our estate planning attorneys can help you make the necessary changes.