Congratulations on your upcoming marriage! While you’re planning your wedding, it’s also the perfect time to think about protecting your shared future. Marriage significantly impacts estate planning—understanding how can protect you, your spouse, and the life you’re building together.

1. Updating Your Beneficiary Designations

One of the most overlooked yet crucial steps is updating your beneficiary designations. Your marriage doesn’t automatically change who receives your life insurance, retirement accounts, or investment accounts. Take time to review and update all beneficiary designations to reflect your new marital status and wishes. It’s also a good time to have conversations about things like the amount of insurance coverage you have or how much you’re contributing to retirement accounts.

2. Reassessing Your Will or Trust

Under Ohio law, marriage can affect your existing will’s validity. Ohio provides special protections for surviving spouses, including the right to claim an “elective share” of your estate regardless of what your will states. Consider whether a joint trust might better serve your needs, especially if you’re blending families or have substantial assets to protect.

3. Creating New Healthcare Directives

In Ohio, marriage doesn’t automatically grant your spouse the right to make medical decisions on your behalf. Update your Healthcare Power of Attorney and designate your spouse as your healthcare proxy if you want them to have this authority. Consider creating a HIPAA authorization to ensure they have access to your medical information.

4. Protecting Your Spouse’s Future

Think about how you want to provide for your spouse if something happens to you. This might include reviewing your life insurance coverage and considering survivorship rights for your home. Ohio’s laws on marital property and survivorship deeds provide specific protections for married couples that you’ll want to understand and potentially enhance through your estate plan.

5. Planning Together for Shared Goals

Take time to discuss your financial values and goals as a couple. Are there children from previous relationships to consider? Do you want to make charitable gifts? Understanding each other’s priorities helps create an estate plan that reflects your shared vision while protecting both partners’ interests.

Plan the Future Together, With Confidence

Building a strong foundation for your future together includes having the right estate planning documents in place. Contact James Bart Leonardi LLC for estate planning services and start your marriage with the peace of mind that comes from knowing you’re prepared for whatever the future holds.