Consider having a will when you get married in Pennsylvania

On Behalf of | Dec 22, 2022 | Probate & Estate Planning |

When you get married, a lot of things change. You become responsible for another person, and you create a new family unit. One thing that often changes when people get married is their estate plan, which includes wills. It’s important to have a will when you get married for the following reasons.

To protect your estate and assets in the event of death

If you don’t have a will when you get married, your estate may not get distributed as you wish, especially if you already have children. A will allows you to specify who should receive what portion of your estate after your death. Usually, this is the surviving spouse, but it can also include other people, such as children or charities.

To decide who will make decisions on your behalf

A will allows you to designate an executor who will be responsible for paying off any debts and carrying out your wishes after you die. This way, you can ensure that someone you trust will be in charge of managing your estate. Note that when creating this estate planning document, it is important to name a backup executor in case your first choice is unable or unwilling to serve.

To choose guardians for minor children

If you have children from a previous relationship, it’s important to include them in your estate plan. A will allows you to specify who should care for your children if something happens to you and the other parent. That way, there is no uncertainty about who will be responsible for your children’s well-being.

To prevent or reduce estate tax liability

By creating a will, you can take steps to minimize estate taxes, such as by transferring assets to beneficiaries. This way, you can ensure that more of your estate goes to the people you care about and less goes to the government. A qualified estate planning attorney can help you determine how to structure your estate plan in order to reduce or eliminate estate taxes.

Overall, a will is an important estate planning tool when getting married. It not only allows you to control how your estate is distributed after death, but it also allows you to make decisions about who will care for your children and minimize estate taxes. Contact an experienced estate planning lawyer today so that you can understand all of your options and make sure your family is taken care of in the event of your passing.

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