5 Reasons You Need an Estate Plan After Your Marriage
Congratulations! Marriage is a very exciting time at any age and something that should be both celebrated and protected. The best way to protect your marriage might surprise you: with a comprehensive estate plan. That’s right, LGBT or straight, first marriage or fifth — your estate plan should be as important to you as getting your thank you notes out. Gastelum Law can help you with all your estate planning needs.
Here’s a look at five reasons you might need an estate plan after your marriage:
1. First time marriages: If this is your first marriage, this may very well be your first estate plan too. You and your partner should make an appointment to see an estate planning attorney to learn about the various estate planning options and decide which is the best fit for you as individuals and as a couple.
2. Divorce and remarriage: If this is not your first marriage, you will want to make sure that your will, trust and everything in between includes your new spouse. Additionally, you will also want to make sure that your estate plan reflects changes in your estate (e.g., personal and real property) that may have occurred following your divorce.
3. Power of Attorney: Even if you were with your new spouse for a long time before making it official, very few people take the time to appoint a power of attorney for things like finances and medical issues. In addition to making sure your new spouse is financially taken care of in the event of your passing, you will want to consider who will take care of you in the event that you are unable to take care of yourself. While this discussion may not be something you want to do while enjoying the honeymoon phase, the sooner it takes place and is formalized, the better.
4. Children: Maybe you are planning for kids. Maybe you already have kids together or with someone else. Whatever your family situation, make sure your will reflects the most current version of it as it relates to your children.
5. Pets and other personal items: Your will is your will. So when there is something important in your life, such as a pet or other valuable possession, you can make sure that it is properly placed and taken care of when you pass. People are always amazed at the ways an estate can be personalized.
A Los Angeles Area Estate Planning Attorney Can Help
If you are recently married, you should have an up to date estate plan in place to safeguard your interests. At Gastelum Law, we can help accomplish all this and more. Additionally, having an estate plan is an ongoing process, so whether this is your first or you have had one in place for years, make sure you revisit it every time something important changes. At Gastelum Law, we can help you structure the best plan for you and your family, so pick up the phone and schedule your initial consultation today. We look forward to hearing from you!