When you’re getting married, meeting with a lawyer to discuss an estate plan is probably the last thing on your mind. You and your spouse are busy settling on a new home or apartment and planning the wedding itself. This is a mistake. As you plan to merge lives with the one you love, don’t forget you’ll also be merging finances, properties, assets and possibly even children. For these reasons, contacting an estate planning attorney should be a huge priority as you plan your upcoming nuptials.
Here’s how an estate planning attorney can help you on your road to the altar:
- Draft prenuptial or premarital agreements that stipulate how finances and other assets will be divided up in the event of a divorce.
- Prepare durable powers of attorney, which give your spouse the rights to make decisions regarding finances, accounts and other household matters should you become incompetent or otherwise unable to do so yourself.
- File healthcare powers of attorney and advance directives, which give your spouse the power to make healthcare decisions on your behalf if you’re unable to think or act on your own. These can also detail your preferences on end-of-life care (such as resuscitation).
- Help you plan for future joint tax filings so you can structure your estate as effectively as possible. This will allow you to reduce your tax liabilities and set up trusts and other forms of asset protection.
- Draft wills, allowing you to bequeath certain accounts or parts of your estate to your new spouse or their/your children.
- Change beneficiaries on your life insurance policies, trusts or accounts. An estate planning attorney can also include your new spouse in your business succession plan if you own your own business.
Are you heading to the altar soon? Then contact an estate planning attorney at Goldenberg Heller & Antognoli, P.C. today. Our experts can help ensure a smooth union between you and your spouse.