Estate Planning for Married Couples in Houston
Update Your Estate Plan to Reflect Your Wedding Vows
Estate planning for married couples is very different than for singles. With each marriage comes new rights and new responsibilities. If you already had an estate plan created when you were single, you should bring your estate plan up-to-date to reflect your wedding vows.
Common Misconceptions about Estate Planning for Married Couples
Many married couples are surprised to hear that marriage does not necessarily mean that a surviving spouse inherits all of a deceased spouse’s property. Another misconception is that a spouse is able to obtain medical information relating to the other spouse. Often, the law intrudes to deny spouses the rights they assume they have.
What happens at the surviving spouse’s death?
Some married couples are comfortable leaving all of their assets to the surviving spouse, then relying on the surviving spouse to decide on who the beneficiaries should be to receive the couple’s assets at the survivor’s death. Other married couples want to make sure that a surviving spouse is well cared for, but are worried that a second marriage after the first spouse dies will result in disinheriting the couple’s children.
Protecting your children’s inheritance from their creditors and themselves
If you have children, you may be worried about protecting their inheritance in the event they are ever in a divorce situation or have other creditors or potential creditors. You may also have strong feelings about the age a child needs to be before he or she has unfettered control over his or her inheritance.
There are solutions to all of these concerns. When we meet with you, we review your family situation, your assets, and your goals, then work with you to come up with a plan to address these concerns.
What About Re-Marriage and Blended Families?