By Darlynn Morgan, Orange County Wills and Trusts Lawyer
As an Orange County wills and trusts lawyer, I know that after the honeymoon is over, young couples like to focus on relaxing after the grueling months of planning a wedding – NOT planning for what will happen if they are no longer here!
Yet an important part of planning your new life together should include deciding what will happen to your family and your assets after you pass. As an Orange County wills and trusts lawyer, I help newlyweds on a regular basis, and find that many are unaware just how much estate planning is an essential part of getting married.
I hear a number of reasons from young couples for this, including:
- “The wedding took up most of our savings, so there would be few assets in the estate”
- “Death is the last thing on my mind; we have the rest of our lives to figure out our finances.”
- “We don’t have children”
- “My spouse already knows my wishes for after I die”
- “Estate planning seems complicated and expensive”
While these are all understandable thoughts, they still don’t justify ignoring the need for a will, living will, healthcare power of attorney, and other estate planning essentials.
Not to mention, in the days and weeks following the wedding, names have to be changed on countless documents such as drivers’ licenses and social security cards, etc, and a spouse is often added to the mortgage, deeds, car titles, and bank accounts. When you look at it from this perspective, estate planning is simply another administrative task that can easily be handled during this time.
And contrary to popular belief estate planning is easier than you think, and it doesn’t have to cost a fortune. Taking the time plan out your estate is a small price to pay if it means giving your family peace of mind while they deal with the grieving process after losing you.
Still not sure how to proceed? Contact our Orange Wills and Trusts law firm at 949-260-1400 to schedule a complimentary Family Wealth Planning Session (normally $750) with the mention of this article. We can help you and your spouse plan the rest of your new life together, so you can focus on living it.