Getting married is an amazing life event which brings forth a lot of changes. Between wedding planning, the honeymoon, and establishing your new life together, it can be easy to overlook some important steps that you need to take when getting married. One of the most important steps that should be taken when you get married is creating or updating your estate plan.
There are many important ways that your spouse can be added to your estate plan, and if it is not up to date to include them, you cannot ensure that your wishes for you and your new spouse will be upheld. If you were ever in an accident and became incapacitated, you may want your spouse to be listed as both your Power of Attorney and Health Care Proxy.
By giving your new partner this authority, you are ensuring that your health and financial decisions can be handled quickly, without the need for court. While spouses are typically given these responsibilities by the court, the laws differ by state, and it’s important to have these documents in place. The court’s decision could add unnecessary time to the situation, especially if you had an ex from a previous marriage, who was still listed as your agent in these cases. Similarly, if you were to pass away, having an updated Will would guarantee that your spouse and family are given what you would have wanted, without court interference.
Your marriage is such an important life event, and we want to ensure that you and your spouse are set to be protected for life. Creating your estate plan is such an important step in this process, yet so few people have them ready. A 2021 survey by TheKnot.com found that the average age of marriage is 32 years old, yet a 2019 survey by Caring.com found that less than 20% of people ages 18-34 had a Will. This means that on average, most newly married individuals do not have an estate plan. However, according to a 2016 survey done by TheWealthAdvisor.com, 71% would feel like a better spouse if they had a properly planned estate. We know that protecting yourself and your new partner is a priority, which is why Gentreo makes creating and updating your plan easy and affordable for everyone.
Steps to Update Your Estate Plan When You Get Married
Getting married is a huge life event, and with it comes many life changes. At Gentreo, we know that protecting yourself and your new spouse is the number one priority, and want to make sure that you have all the resources needed to ensure that you are both prepared for anything. Gentreo makes it easy and affordable to create, update, and store your estate documentation. With the Gentreo Digital Family Vault, everyone knows where to turn in the event of an emergency and instant access is always just a few clicks away. Sign up today to give you and your new spouse the protection you deserve.