Getting married is something that a good number of people look forward to and are happy to finally do when they meet the right person. To ensure that you have a bright future with your spouse, it’s crucial that you make proper plans for your future together. One of these plans is estate planning. Outlined below are some reasons why you need to work with an estate planning attorney to come up with legal security for your future as a couple, especially financially.
Secures Your Loved One’s Future
An estate planning attorney will help you understand what you need to do to secure the future of your loved one. This is an important step to take and can save you from the outcome of simply assuming that your loved one will be protected in spite of anything that happens in the future. That’s because, without an estate plan, you don’t know how the probate court will decide to divide up your estate. While one out of three Americans is without a living trust or will claim that they don’t have enough assets to leave behind, this may not be accurate after a few years together. This is why you need the help of an estate planning attorney when you get married.
Secures Your Health in the Future
An estate plan also goes beyond securing the financial future of your loved one and the family that you may intend to start. This is because you can include instructions about what you’d like to be done in case you get incapacitated in some way or another. Try your best to be among the 32% of adults in America who have an estate plan, trust, or will in place. Doing this is going to ensure that you get the care you’d like and possibly even minimize the burden on your family in case something happens. Since tomorrow is never promised, this is one of the most important things that you could do for the sake of peace of mind, both yours and that of your spouse.
Understand Your Rights and Obligations
Next, a legal professional can help both you and your loved one understand the rights and obligations in marriage. For one, once you get married, both you and your spouse get equal rights to any property acquired as well as income earned during the marriage. You’re also obligated to be transparent with your spouse in terms of finances. For example, something like spending money secretly and without the consent of your spouse would be a violation of your marital obligations to your partner. Additionally, 77% of adults in America believe that estate planning is a necessity for everyone, regardless of how much wealth they have. This makes it clear that many people understand the importance of having an estate plan, especially in marriage.
Learn More About Money Matters for Couples
Last but not least, working with a legal professional will help you learn more about money matters for couples. For instance, you’ll find out that money earned either by yourself or your spouse is going to be classified as if it had been earned half by each of you. This is regardless of whether it’s deposited in a joint account or one of your accounts. The same case applies to debt, which, while individually owned by the specific person who has it, becomes an equal responsibility to both of you once you get married.
These are some of the important reasons why you need to find a good estate planning attorney to work with if you’re getting married. Doing so is going to save you a lot of stress and complications down the road. It will allow you time to work on being the perfect spouse to each other and therefore build an unbreakable bond.
