Once you’re married, your spouse is your “person” right? The one who is there for you no matter what — even in worst-case scenarios, like an accident or serious illness. You know that. But is it true in the eyes of the law?
Most people assume once you’re married that you don’t need clear directions about who makes financial or medical decisions for you if you can’t — or who receives your assets if something were to happen to you. But when it comes to your health and other things that are important to you, you want to know for sure.
That’s why, once you’re married, you should make sure the following documents are updated — or created, if you don’t have them done yet. Then you and your spouse can rest easy knowing that if something does happen, you’ll be prepared with an estate plan you’ve both agreed upon.
Key estate planning documents to have in place after marriage
- Will or trust. A will or trust outlines how your property and assets will be distributed after your death. These documents also name guardians for any minor children. Having a will or trust can also minimize taxes and avoid a long, drawn-out and expensive court case trying to figure out who gets what.
Marriage is a common trigger for updating an existing will – or creating one if you don’t already have one. - Health care power of attorney. A health care power of attorney appoints a person to make health care and medical decisions for you if you are sick or unconscious and unable to make or communicate health care decisions for yourself.
Even spouses may not automatically know or agree on difficult medical choices. This document ensures your wishes are known and legally recognized. - Durable power of attorney. A durable power of attorney appoints a person – often your spouse – to make legal and financial decisions on your behalf. This can include managing bills, bank accounts or other legal responsibilities.
- Living will. A living will, also known as an advanced directive, puts your end-of-life medical care wishes in writing. It provides guidance to your family and medical providers during emotionally challenging situations.
- Beneficiary designation forms. Beneficiary forms for life insurance policies, retirement accounts, annuities, and 401(k)s should be reviewed and updated after marriage. These designations override wills and trusts, so it’s important they align with your overall estate plan.
Talk through estate planning together
Before you get married, you and your spouse-to-be will have a ton of things to discuss regarding the wedding and related arrangements. That’s understandable. But you’ll also want to take some time to talk about your immediate and long-term finances, health care needs and thoughts about having children. This helps lay the groundwork for creating an estate plan with the legal documents in place that will help direct and reinforce your decisions.
Taking the time to update your estate planning documents after marriage helps ensure you and your spouse are prepared and protected throughout life’s unexpected moments.
Frequently asked questions
Do married couples automatically have legal authority over each other?
Marriage provides some default rights, but documents like powers of attorney and advance directives offer clearer legal authority.
Do I need a will if I’m married?
Yes. A will helps ensure your assets are distributed according to your wishes and allows you to name guardians for minor children.
What documents should be updated immediately after marriage?
Common updates include wills, beneficiary designations, powers of attorney and health care directives.
Can beneficiary designations override my will?
Yes. Accounts like life insurance and retirement plans are distributed based on beneficiary forms, regardless of what a will says.
Should both spouses have their own estate planning documents?
Yes. Each spouse should have individual documents that work together as part of a coordinated estate plan.