Estate Planning Blog

Newlyweds and estate planning – Folsom estate planning attorney on the importance of a will

February 4, 2011

As a Folsom estate planning attorney, I know that young newlyweds can get so wrapped up in focusing on their new life together that they overlook the tough questions like, “What if I were to die tomorrow? What would happen to my spouse or my children? What if we both die in an accident?”

An important part of answering these questions is by examining what your wishes would be if something unexpectedly happened to you. Remember, having a will is not just about where the money in your bank account would go if you were no longer here. Instead, a will covers a wide arrange of issues, including:

  • Determining who will inherit your assets like your house, car, money, retirement savings, and life insurance
  • Who will take care of your children
  • Who will be in charge of handling your estate
  • Your funeral wishes (for example, burial or cremation)
  • The protection of your new family, in the event that you were previously married. Divorce does not automatically cancel out any previous wills, so establishing a new one ensures that your former spouse is no longer entitled to your assets.

It is also important to remember that a will must have certain characteristics for it to be valid. Here are the requirements for the state of California:

– The will must be signed by you and two witnesses

– You must be deemed mentally competent at the time of signing

– You must be at least 18 years of age

The best thing for a newly married couple to do is to visit an attorney who specializes in estate planning in California. He or she can help you determine which estate planning documents are best for your budding family, ranging from wills and trusts to living wills and powers of attorney.

And don’t forget about beneficiary designations for your retirement accounts and life insurance. I’m sure you wouldn’t want you ex or your parents receiving those funds instead of your spouse.

Start your marriage out on the right foot. Contact me at (916) 241-9661 for your guide to full estate planning. As an experienced Folsom estate planning attorney, I have helped families new and established prepare themselves for the inevitable. I look forward to hearing from you.

Call The Chubb Law Firm today at (916) 241-9661 to review your goals and discuss your options.

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CLIENT Story

My wife and I have some quite large complexities both in our individual preferences and the construct of our life. When planning for our trust, Heather took the time to hear EVERYTHING we said. The trust which Heather formed for our family took all our concerns into account. When everything was said and done, we received a trust which, by design, is extremely personal to our circumstance. We also are delighted to have Heather to be part of our team of advocates to help when the time comes.
Jon

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