When preparing to marry, some Texas couples seek protection for their future financial interests by drafting a prenuptial agreement. In addition to this step, it may also be prudent to seek protection through prenuptial estate planning. It is easy to overlook the importance of planning for the future in case of death or incapacitation in the midst of planning a wedding, but it can be important to do so.
What does this mean?
Estate planning is important for every adult, regardless of age, health status and income level. It can be critical for someone planning to marry as it will allow one to ensure a fiancé inherits assets in case of an unexpected death. If a partner dies before marriage, a fiancé not specifically mentioned in an estate plan may not receive assets.
It is also possible to adjust estate plans to include a fiancé on a power of attorney, living will and other documents that may be necessary in case of incapacitation. This will allow a partner to make important medical and financial decisions even if he or she is not the spouse. Life is unpredictable, and it is prudent to have plan in place in case the unexpected happens.
When planning to marry, it may be important to consider estate planning matters as well. It may be helpful to speak with an experienced Texas estate and probate law attorney to understand what plans may be necessary for the individual situation. Even before marriage, thinking long-term and planning for the future is prudent.