Staten Island Asset Protection Lawyer discusses estate planning for major life events like marriage

There are few moments more memorable than a marriage. With the commitment of two individuals joining together comes the perfect opportunity to discuss numerous topics related to estate planning. It is important to construct a sufficient estate plan that reflects each individual’s wishes based on the new family structure set in place in a timely manner. Factors that need to be taken into account during the process include whether or not your spouse will automatically become the heir to your entire estate, impacts of prior marriages, and the involvement of children/future children.
After you’re married, an estate plan should be modified to accommodate the needs of you and your new spouse. This can include the division of separate and marital property. Over time, as assets are gained and children are born, an estate should be edited in relation to these changes.
If you enter a second marriage, estate planning is imperative as you must decide how to manage the assets each spouse brings into the new marriage. When blended families are involved with children from previous marriages, the couple must decide how to divide assets among the two families. If various scenarios are not considered assets may pass to your new spouse by passing children unintentionally.
There are many important factors to consider in an estate plan of a married couple. Having expert advice can be critical to ensure your desires are enforced and your heirs are protected. The estate planning lawyers at Danna & Associates can help you protect your wishes and the assets of your family. Contact our Staten Island Attorney Office to schedule an appointment with an Estate Lawyer.