If you just got married, you are most likely working with your significant other on how to share responsibilities together as a couple. Now is the perfect time to start working on an estate plan as your accounts and possessions are minimal at this point. When planning your future, you may want to start preparing for the next stages of your life. Here are three estate planning documents for newlyweds to start planning their future together.
Durable Financial Power of Attorney
A durable financial power of attorney is an estate planning document that designates who can make decisions on your behalf. The designated individual can sign contracts, pay bills and handle other financial matters. If you become incapacitated without this document, the court can decide who will be in charge of your financial matters.
Another important estate planning document for newlyweds is the advance directive. This can allow your spouse or trusted family member to choose medical interventions if you are incapable of making decisions. These medical interventions can include things like life support removal and surgery. If something should happen to you without this document in place, your spouse will have to petition the courts to be your guardian to make decisions on your behalf.
You may not have children yet, but this estate planning document is crucial if you want kids in the future. If something should happen to you and your spouse, you will want to have a designated caregiver for your children. Without it, your children could be placed temporarily with strangers until the court decides who will take care of them.
Newlywed Estate Planning You Can Trust
Estate planning can help your marriage start on the right track. These three documents can create a starting foundation for your life together. Over time, you will want to update these documents as your family grows and evolves. Turner Law can help you protect your assets as a couple and plan for future changes. Attorney Robert Turner has been helping individuals and couples with their estate planning needs for over 25 years. Contact Turner Law to start your estate planning today.
Posted on the behalf of Turner Law, LLC