Getting married is a significant milestone in one’s life. It signifies the beginning of a new chapter filled with shared dreams, goals, and responsibilities. While planning for the future together, it’s crucial not to overlook the necessity of an estate plan. Hiring an estate planning attorney after saying “I do” can be one of the smartest decisions you make. Here are three compelling reasons to consider this important step.
1. Keep Things in Order
First and foremost, an estate plan ensures that your assets are distributed according to your wishes. Many couples are unaware of the complexities involved in asset distribution, and a do-it-yourself approach could lead to unintended consequences. An experienced estate planning attorney can help you draft a will or trust that reflects your specific desires and safeguards your family’s financial future. This is particularly vital given the low percentage of Americans with an estate plan—only 26% according to ThinkAdvisor. Don’t let your legacy be determined by the default laws of the state.
2. Avoid Tax Liabilities
Secondly, hiring an estate planning attorney can help you mitigate potential tax liabilities. Post-marriage, your combined assets might place you in a higher tax bracket or make you subject to estate taxes. An estate planning attorney can provide tailored strategies to minimize these financial burdens. By delineating how assets should be divided, what should be transferred to trusts, and other tax-efficient moves, you can protect your estate from exorbitant taxes and preserve more wealth for your loved ones.
3. Manage Healthcare Directives
Finally, an estate planning attorney can facilitate smoother management of healthcare directives and powers of attorney. In case of incapacitation, these legal documents ensure that your medical and financial decisions are made by someone you trust. Navigating these complex matters without legal help can be daunting and risky. Having a comprehensive plan in place can offer both you and your spouse peace of mind, knowing that even in times of crisis, your interests and well-being are protected. This can be especially helpful when you are dealing with health issues at later points in your marriage. This will make sure that your wishes are still followed and that your funds and well-being are in the hands of someone that you trust.
Hiring an estate planning attorney after getting married is not just a wise decision, but a necessary one. From ensuring the proper distribution of your assets to minimizing tax liabilities and managing healthcare directives, an estate planning attorney can play a pivotal role in securing your future. Take the proactive step today to ensure that your family is protected and your wishes are honored.
If you’re looking for an estate planning attorney to help you on your journey through marriage and life, then look no further than Tessmer Law Firm PLLC. We are here to help you in this intricate process and we want to make sure that your wishes are followed. Don’t wait until later in life to get your estate in order, call us now so that we can begin this detailed process.
