There’s a lot that goes on your wedding to-do list, but there’s one task that’s often overlooked: prenuptial estate planning. It can be a real challenge to accomplish estate planning for the newly engaged.
This somewhat morbid topic can be problematic to bring up in the midst of discussions over an engagement and the wedding event. However, planning ahead can help during a long engagement and ensure that both you and your future spouse are on the same page.
Wills and other estate planning tools like powers of attorney are made for today and not tomorrow and it can be dangerous to assume that your fiancé would be able to access your important information without proper legal planning. Family members, in fact, stand to inherit property when you have not specifically named your fiancé in your estate planning documents.
While this might seem like an interim plan and one that can easily be updated after you get married, no one can anticipate the impact of a sudden car accident or other incapacitating event prior to the wedding.
You might have a long engagement, and this means there’s a risk of being impacted by previous plans, such as a will that names a former spouse or other family member as the primary beneficiary of all your assets. Once you’ve decided to get married, you really need to make these updates as soon as possible.
You have already made the lifelong commitment of bringing this person into your life and planning together. Make sure that you have protected their interests and incorporated these into estate planning documents with the support of the right lawyer in Michigan.