Estate Planning Law

The First 3 Estate Planning Documents You Need After Getting Married

As a newly married couple, you may have already discussed estate planning to secure your future. It’s great that you are taking steps to ensure financial security for your family. Estate planning isn’t something that most young couples set out to do. But the fact that you are thinking about the future is a good sign that you will make smart decisions throughout your marriage.

At Doane & Doane, we believe that it’s never too early for couples to consider estate planning. So if you are interested in moving forward with yours, we’re here to provide you with essential information regarding how to do just that. 

There are a few things you will need for estate planning. When you meet with us to go over your estate planning, we will explain what kind of documentation you need, how to plan, what to consider, and more. As such, we want to help give you a head start by detailing the essential paperwork you will need, starting with the first three. By gaining a better understanding of estate planning and what it entails, you will find it to be easier to accomplish.

What Is Estate Planning?

Here at Doane & Doane, we focus on protecting the assets of our clients, both before and after death. With a solid estate plan in effect, you can trust that your assets will be well protected after you pass away. 

This involves determining who controls your will and trust after you die, who gets your assets and how to get them, and other important matters. This is why it is so important to be as detailed as possible when writing your trust. In addition, you want to be sure to appoint the correct beneficiaries and list important instructions to ensure that your wishes are met.

This can be a challenging job, which is why you need to make sure that you have a qualified lawyer by your side. At Doane & Doane, we have many years of experience in assisting clients with such matters. So when it comes to estate planning, you can rely on our legal experts to guide you in protecting your property.

What Documents Do We Need? The First 3

Every married couple is different in terms of what they feel they need to protect in their estate planning. But regardless of where you stand on the matter, the way you go about estate planning is universal. 

As such, you will need specific documentation, the first of which includes a living trust, last will and testament, and a durable power of attorney. Let’s look at each of these in greater detail.

Living Trust

A living trust details your assets. These can be from either you or your spouse or both. Moreover, you will need to appoint a trustee to manage your living trust. Your trustee is responsible for making sure your assets go where they are supposed to according to your wishes if you pass away or become incapacitated to where you can no longer viably control your assets.

And since living trusts aren’t subject to probate, the assets contained within can be dispersed quickly and easily to ensure that there aren’t legal roadblocks standing in the way of getting your assets where you want them to go.

Last Will and Testament

Whereas a trust can take effect in the event that you fall ill or become incapacitated for another reason, your will takes effect only when you die. Moreover, it is subject to probate before the assets written within can be dispersed. Your will explains who you want to get your property after you’re gone. You can also establish a guardian for your dependents and detail funeral arrangements.

Durable Power of Attorney

Your durable power of attorney allows you to appoint a trusted individual, or agent, to manage your money in the event that you become incapacitated and can no longer do so on your own. This also includes bonds, stocks, property management, and certain legal agreements. If your spouse has a good understanding of financial management, you may want to appoint them officially. 

To do this and more, you should contact a trusted estate planning attorney to assist you and ensure that the proper action is taken to make it official. Contact Doane & Doane today to arrange a consultation to discuss your estate planning needs.

Doane & Doane Is Stuart’s Trusted Source for Estate Planning 

Doane & Doane was founded in 2003 remains one of the most trusted and respected estate planning firms in Southeast Florida. If you need assistance establishing an estate plan, protecting your assets, or any other related issues, please contact us at 561-656-0200. Alternatively, you can always fill out our online contact form, and we will promptly respond to your inquiry.

The information in this blog post is for reference only and not legal advice. As such, you should not decide whether to contact a lawyer based on the information in this blog post. Moreover, there is no lawyer-client relationship resulting from this blog post, nor should any such relationship be implied. If you need legal counsel, please consult a lawyer licensed to practice in your jurisdiction.