Has Your Marital Status Changed?

There are many things you have to do after getting married, and just as many when you get divorced. When you get married, you intertwine your lives with your spouse. Names change, who pays what bills must be assessed, and you start putting down deep roots on which you will build your family tree.

It is hard to think about the end of your life when it feels like you’re just getting started. Estate planning may be the last thing on your mind after getting married, but if you want your final wishes honored, it is important to update the documents in your plan.

The same is true about divorce. You are now tasked with detangling your lives and moving on to new endeavors without your former partner. It is important to take time to update your estate plan, and you shouldn’t wait until the divorce is finalized to do so.

Kendal Law Group PC is here to help you understand how marital changes can impact your estate planning!

What Should You Do After the Wedding?

After the celebrations settle down, you and your spouse will be tasked with many legal steps to legitimize your marriage. There are common things every married couple does, like name changes, updating the driver’s license and other ID cards, and creating new bank accounts where you and your spouse can work towards common goals.

But now that you are happily married, you will likely want to make sure your spouse is cared for after you pass away. This means updating your estate plan.

Estate planning is a vital tool that is valuable to anyone over 18. It does not benefit only the elderly or wealthy. Estate planning consists of many legal documents, from advance directives to wills and trusts.

Here are a few things you will likely want to update when you get married:

Healthcare Power of Attorney

A Healthcare Power of Attorney (and other documents such as an advance directive or a living will) instructs your healthcare professionals and family members on how you would like to be cared for should you become incapacitated.

This document allows you to name a person to act as your healthcare agent, a person who can make medical decisions on your behalf. When you get married, you would likely want to update your estate plan to name your spouse as your agent, as they should know most, if not all, of your healthcare wishes.

Trusts and Wills

Trusts and wills are very different things that use very similar terminology.

Trusts are a legal entity that allows the person who create it, called the grantor,, to deposit assets under the trust. They name a person to manage the trust and its assets, called the trustee. The trust outlines how those assets are used and distributed to certain people, called beneficiaries.

A will is a legal document that allows you, the testator, to inventory your assets and determine how they will be divided and distributed to the people you choose, called beneficiaries. When you create a will, you must name an executor, the agent who will be in charge of executing it when the time comes. Your will allows you to name a guardianship if you have minor children. This is who will receive custody of your children should both parents perish.

In both cases, you will need to add your spouse to your trusts and will, likely, as beneficiaries, but you can also name them as the trustee of your trust and the personal representative of your will.

What About Divorce?

Divorce comes with many painful tasks that must be completed. Detangling the life you once shared with another person can be very difficult. You are tasked with many of the same things as a new marriage, but in reverse: name changes, updating your identification, splitting your bills, and also splitting your assets.

This means you are also tasked with updating your estate plan to reflect your new marriage status.

Healthcare Power of Attorney

If your former spouse was your healthcare agent, you likely will want to update your Healthcare Power of Attorney to name a new healthcare agent. In some circumstances, your former spouse being able to make important healthcare decisions for you could be disastrous. Update these documents as soon as you realize you do not want them making medical decisions for you.

Trusts and Will

In Michigan, any provisions made for your former spouse in your will are automatically revoked when you get divorced. You should still take the time to update your will and remove mention of your former spouse. On the other hand, if you would still like to leave something to your former spouse, perhaps because you share minor children, you should be sure to update your will with that information.

Any trusts naming your spouse as a beneficiary or trustee should be updated. You will need to remove them as a trustee and as a beneficiary if you so choose.

Do You Need an Estate Planning Attorney?

Marriage, divorce, and estate planning are all complex legal processes that require your full attention. While you may be able to make some updates to your estate plan without the help of an attorney, wouldn’t you get peace of mind knowing everything is legally sound?

Call 248-609-1718 to schedule your free consultation with Kendal Law Group PC. Our team can help you with all aspects of estate planning, from creating your first will and trust, to helping you understand the intricacies of advanced estate planning. And when your marital status changes, Kendal Law Group PC should be your first call to ensure your planning reflects the change!