Whether you’re single or married, estate planning is essential if you wish to save your family from trouble after you pass away. It may seem like an incredibly difficult topic to discuss, but it’s important nonetheless.
This blog post will highlight the importance of estate planning for married couples.
Estate planning is the process of distributing your financial assets, such as money, property, pensions, etc., to your heirs or beneficiaries before your death. Hire an estate planning attorney to take care of these matters. Doing so can protect your wealth and help you ensure that your loved ones don’t face any problems after your death.
Why Should Married Couples Think About Estate Planning?
According to USA inheritance laws, the house and other assets are considered as the properties of the spouse who owns them. Things are even more complicated when it comes to real estate assets. This means that if your partner owns everything and does not sign an estate planning document before their death, you may lose a major chunk of your savings and investments.
What Happens if Your Spouse Doesn’t Sign an Estate Plan Before They Pass Away?
Claiming your right to your spouse’s wealth after their death isn’t an easy task. When people die, their assets automatically go into probate. Dealing with probate is a long and often complicated legal process. Although a probate attorney can help you, it can still take months, if not years, to transfer wealth from the original owner to the spouse or other heirs. Things can get even more complicated if your spouse’s siblings or other blood relatives also claim to have a share in your spouse’s wealth.
Protect yourself or your spouse from these situations by drafting an estate plan together. To make things easier, seek the help of an estate plan lawyer.
There are several ways in which couples can protect their assets after marriage. For instance, some couples divide their assets evenly in case of a divorce. However, things are a bit complicated when it comes to estate planning prior to the death of a spouse. To avoid any trouble, hire an estate attorney who specializes in estate planning. A comprehensive estate plan should cover all the possibilities, such as death and divorce.
Kalicki Collier is an experienced and reliable law firm in Nevada. We have years of experience in helping our clients manage their financial assets in Reno, Nevada. Reach out to us if you’re looking for a divorce attorney Reno, estate lawyer, estate planning lawyer Reno, or any other legal expert.