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Home >> You’re Recently Married. Now it’s Time to Make an Estate Plan

You’re Recently Married. Now it’s Time to Make an Estate Plan

January 19, 2015 by Robert Kulas. Leave a Comment

You're Recently Married. Now it's Time to Make an Estate PlanFor recently married couples living in the state of Florida, your new life as spouses has just begun. As newlyweds, you have your spouse have the future to look forward to, and a life spent together as a couple to plan for. So, if you haven’t already done so, you need to make sure to include estate planning in your list of things you need to do. Now that you are married, you and your spouse need to understand what choices you can make through an estate plan, how they affect each of you, and why it’s important to create that plan as soon as possible.

Recently married couples need to address inheritance issues.

One of the rights you receive upon getting married is the right to inherit from your spouse upon that spouse’s death. Unlike other inheritance rights, this is not a right that you can choose to take from one another. In other words, you cannot choose to disinherit your spouse if your spouse does not agree to be disinherited. While you can take away your spouse’s inheritance rights if you get a divorce, or if you agree to waive those rights, spouses are automatically entitled to inherit from one another.

However, what you are entitled to inherit will differ depending on your circumstances. For example, should you die without leaving behind an inheritance plan, your spouse will likely inherit your entire estate, even if you have children together. However, if you have children from a previous marriage, your spouse will only receive half of your estate.

So, before you create inheritance plan, you will need to speak to your attorney about what you, as a married couple, are entitled to receive from each other and what, if anything, you can do to change that.

Recently married couples need to be clear about who gets to make decisions for them.

So you know who you would want to make decisions for you if you become incapacitated tomorrow? For many married couples, they want their spouses to be able to make these kinds of choices. But will your spouse know what you would have wanted? What happens if both of you become incapacitated at the same time? What if you want your spouse to make one kind of decision for you, but want someone else to make other kinds of decisions?

As a married couple, you need to be clear about who you want to represent you in the event you become incapacitated. You should discuss this issue with your spouse, and you need to have that discussion soon. Further, you need to talk to an attorney about creating incapacity planning tools that will record your choices in a legally enforceable manner.

Filed Under: Estate Planning

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Robert Kulas and staff made making a will an easy to understand process. They were very knowledgeable and attentive to my wishes. All my documents were provided in an organized binder which will be a great asset to my family. I would definitely recommend them.

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Everyone treated us extremely well.  Robert explained how a trust works and the benefits of having one.  We decided to move forward and complete the process.  He was very kind and knowledgeable.  Julie was also very helpful and very patient with our questions.  We felt very comfortable with this firm handling our affairs.  We would highly recommend this firm to our friends and family.

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"Everyone treated us extremely well.  Robert explained how a trust works and the benefits of having one.  We decided to move forward and complete the process.  He was very kind and knowledgeable.  Julie was also very helpful and very patient with our questions.  We felt very comfortable with this firm handling our affairs.  We would highly recommend this firm to our friends and family."

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Janice M
Client Review
August 25, 2020
    

Robert Kulas and staff made making a will an easy to understand process. They were very knowledgeable and attentive to my wishes. All my documents were provided in an organized binder which will be a great asset to my family. I would definitely recommend them.

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Krissy L.
Client Review
August 25, 2020
    

I have worked with Mr. Kulas & staff before. And they are very professional. I am very satisfied with Mr. Kulas and his staff and give them the highest satisfaction and 5 star rating.

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Leo C.
Client Review
August 25, 2020
    

Mr. Kulas and his staff have been extremely helpful & knowledgeable for the over 3 years we have been associated. They are easy to talk to and explain everything without feeling rushed. Very competent and professional.

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Mildred W.
Client Review
August 25, 2020
    

I have known Robert Kulas for 20 years since I was co-executor for friends who had Mr. Kulas prepare a Trust for them. When I felt I needed a trust also, I came to him. I have always been completed satisfied with his work and that of his charming, competent staff.

default image
Joan C.
Client Review
August 25, 2020
    

We began our estate plan process in 2004 (12 years ago) and have been pleased with the periodic reviews we have gone through and when changes have been needed the firm has been thorough and professional in making those changes.

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L.G.K.
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