Newlyweds: Remember Estate Planning and Thank You Notes- With the fall now the most popular time of year for weddings, newlyweds should aim for a thoughtful discussion to create a framework for future success. A recent article from Kiplinger, “Here’s How to Help Soon-to-Be Married Clients Get Their Financial House in Order,” covers the basics and the professionals to call on to start married life on the right foot.
Antenuptial agreements, created before marriage, and postnuptial agreements executed after the wedding, allow the couple to establish their individual rights and obligations to each other in case of death or divorce. The wider the disparity between the company’s asset level, the more important these agreements are. If one person has shares in a family-owned business, they need to address the elephant in the room—what will happen if one spouse dies or the family decides to sell the business?
Negotiating a marital agreement takes time and should be done in tandem with full financial disclosure. No, you’re not preparing for a divorce. However, clarifying financial issues and wishes for the future alleviates a lot of the sticky problems that will arise during the course of the marriage anyway. Taking care of this in advance means the couple can focus on day-to-day matters, as the big issues will have been addressed. Ignoring them won’t make them go away.
Review estate planning documents or, if none have been created, get started with a call to an experienced estate planning attorney. Marriage alone does not confer legal authority for health or financial matters. If one of the spouses becomes incapacitated, the other will be able to act on their behalf without going to court.
Seniors walking down the aisle or those with disabilities or chronic diseases are at a higher risk of incapacity and especially need these documents.
Testamentary documents, including the last will and testament and trusts, should be reviewed before or shortly after the wedding takes place. Do estate planning documents created before the new wedding still work? Does the disposition of assets in the will still align with the individual’s wishes?
Beneficiary designations must be reviewed so the right people inherit assets. Beneficiary designations are used to direct assets to heirs without going through probate. If a prior spouse has been named on a life insurance policy, the new spouse will not receive the proceeds from the policy upon the owner’s passing. Court decisions are rarely overturned with this fact pattern.
What about trusts? Irrevocable trusts are used for clients concerned about state or federal tax transfers at death, those who wish to make large charitable gifts, or those who need to transition appreciated assets in a tax-efficient manner. Talk with your estate planning attorney to see how trusts may be appropriate for your situation.
Marriage is a big event for your personal and financial life. Establishing a strong estate plan from the start of the marriage is surprisingly liberating, allowing both spouses to be clear about their financial and legal future together.
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Newlyweds: Remember Estate Planning and Thank You Notes
Reference: Kiplinger (October 4, 2026) “Here’s How to Help Soon-to-Be Married Clients Get Their Financial House in Order”
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