Preparing To Remarry?

It is just as important to update a person’s estate planning documents if a person is getting ready to re-marry. A person revising his or her estate planning documents should take into consideration the following things:

• A person might want to create an inventory listing all of his or her assets.
• A person and his or her future spouse might want to take time to decide how they are going to manage their collective assets. In other words, they should try to determine how they’re going to combine their finances. 
• Both partners might want to take the time to decide on what they want to do with their assets when either one of them dies. 
• A person might want to consult with an attorney when making these important decisions and to update his or her important documents.
• In addition, a person might want to update all of his or her beneficiary designation forms.
• Both partners might also want to consider creating a prenuptial agreement and purchasing long-term care insurance.

See Redo Your Estate Plan Before You Remarry, Elder Law Answers, July 5, 2012.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.