Wedding Planning for Your Legal Future

He or she got on one knee and handed you a beautiful ring.  Since then, you set a date, picked a venue, planned your outfits but…did you remember to plan for your legal and financial future together? Here are a few important things to consider as you plan your wedding.

1.  Get a Prenuptial Agreement. It’s not unromantic it’s just smart.  But don’t do it at the last minute, because one of the key things that can be used to invalidate a prenup is that it was signed too close to the wedding (there are other factors as well but a time for contemplation is crucial).  Call a lawyer early, get it resolved before you pick your napkin colors.
2. Estate planning.  Once you have your honeymoon plans set, schedule an appointment to get your estate plan underway upon return. Even if you have old documents, you now will want to reference this new and important relationship and address any issues, particularly if either or both of you have children from other relationships. In addition to a will you’re going to want to consider having a Power of Attorney and Living Will giving your new spouse the power to act for you if you are incapacitated.
3. Real Estate. Is it your intent to SHARE a marital residence that you own premaritally? This is a very significant reason to get a prenuptial agreement in place because even if it is not your intent to lose any of your interest in that residence in the event the relationship doesn’t work out, just living there can mean that your new spouse has an interest you put all the money in to.  Alternatively, if you have been already living in a premarital residence for some time and contributing to it, you may want to address that in a prenup and/or talk being placed on the deed.
4. Check your Beneficiaries. Even if you have your estate plan done, there are assets such as retirement accounts/pensions and life insurance that do not pass through a will and if you want to have your new spouse as a beneficiary make sure you go make those changes.
5. Children.  Have you been raising children that are not biologically yours either because you two went through Assisted Reproduction or because you have stepchildren whose other parent is out of the picture? Time to speak to a lawyer about adoption to make sure all the legal protections are there for children that are already yours, but the law needs to acknowledge it as well.

Congratulations and we hope your marriage is everything you dream for a happy ever after! If we can help with any of the above, call for a free consult 856-227-7888.