When couples get married, most of the focus is on celebrating the big day, planning a honeymoon, or setting up a new home. But one important step that often gets overlooked is estate planning. While it may not feel as exciting as wedding planning, creating or updating an estate plan is one of the most meaningful ways newlyweds can protect each other and their future together.
At MCV Law, our estate planning attorneys help couples take this important step so they can feel confident that their wishes will be honored, no matter what life brings.
Why Newlyweds Should Have an Estate Plan
Legal Protection and Clarity
Marriage changes your legal rights and responsibilities, and an estate plan ensures that both spouses are protected.
- Wills and Trusts allow you to decide how your assets are passed down, rather than leaving it to state law.
- A Durable Power of Attorney lets one spouse step in to handle financial or legal matters if the other becomes incapacitated.
Health Care Decisions
No one likes to imagine medical emergencies, but planning ahead can spare your spouse and family unnecessary stress.
- A Health Care Proxy designates who can make medical decisions on your behalf.
- A Living Will outlines your wishes for medical treatment if you’re unable to communicate them yourself.
Financial Security
Estate planning helps protect your financial future as a couple.
- Review beneficiary designations on life insurance and retirement accounts to make sure they reflect your new marital status.
- Consider asset protection strategies to guard against creditors or legal disputes.
Planning for Children
If you plan to have children, it’s wise to think ahead.
- Naming a guardian ensures your children are cared for if something happens to both parents.
- Trusts can help provide financial stability for children while protecting assets until they reach adulthood.
Minimizing Taxes and Expenses
The right estate plan can help maximize what you leave behind.
- Strategic planning may reduce estate taxes.
- Trusts and other tools can help avoid the delays and costs of probate.
When Should Couples See an Estate Planning Attorney?
The short answer is: as soon as possible. Whether you create a plan before the wedding or shortly after, the most important step is to start the conversation and put protections in place.
- Before Marriage: For couples with significant assets, business interests, or children from prior relationships, pre-marital estate planning (including prenuptial agreements) can help clarify expectations and safeguard individual property.
- After Marriage: Once you’re legally married, it’s important to update or create wills, trusts, and beneficiary designations to reflect your new family structure and shared goals.
In many cases, meeting with an estate planning attorney both before and after marriage is the best approach. Your plan can evolve as your relationship and assets grow, whether that means buying a home, having children, or planning for retirement.
Peace of Mind for Newlyweds
Estate planning may not be the first thing on your wedding to-do list, but it is one of the most valuable investments you can make in your future together. Having a plan in place provides peace of mind, knowing that your spouse is protected and your wishes will be carried out.
At MCV Law, our estate planning attorneys guide couples through this process with compassion and clarity, helping you create a plan that fits your unique goals.
If you’re newly married or planning to marry, now is the perfect time to take this important step. Contact MCV Law today to schedule a free consultation with our estate planning team.