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By Jennifer J. Corcoran
All Couples Should Consider Additional Steps to Properly Prepare for Their Future
June has traditionally been the most popular month for weddings, but with a new law legalizing same-sex marriages scheduled to take effect on July 24, another month could end up taking the cake, at least in New York for 2011. Yet, regardless of which month comes out on top, it is important for all couples preparing to wed to consider taking a few additional steps to properly prepare for their future.
Whatever month couples choose for their wedding will undoubtedly be the most poplar month for them and their families and friends. Whether their nuptials come in July or September, they should set aside some time before and after their ceremony to discuss and put in place proper planning documents and advance directives.
“I Do To-Do List”
- Create/Update Will and Trust Documents: Ensure your spouse is provided for financially should you die first, as well as plan financially for any children.
- Create a Pre-nuptial Agreement: Prior to getting married, draw up an agreement which specifically sets forth how your assets and debts are to be divided in the unfortunate event of divorce.
- Create a Post-Nuptial Agreement: Didn’t have time to create a pre-nuptial agreement? This legal document created after a marriage affords spouses the same protections provided by a pre-nuptial agreement.
- Execute a Power-of-Attorney: Designate your spouse as your agent, who has the authority to handle your financial or other appropriate party affairs.
- Create/Update a Health Care Proxy: Designate your spouse or other party as the person who can make health care decisions for you if you are incapacitated.
- Create/Update a Living Will: Provide your health care agent identified in your health care proxy with instructions on how you want to be treated medically in the event of incapacitation.
Couples interested in executing any of the items on this list should contact a family and matrimonial or estate planning attorney.
Jennifer J. Corcoran is a partner with Tully Rinckey PLLC who concentrates her practice in the areas of family and matrimonial law, elder law and trusts and estates. She can be reached at jcorcoran@tullylegal.com. To schedule a meeting with one of Tully Rinckey PLLCs experienced family and matrimonial attorneys call 1-888-LAW-4Life.
