Wedding planning involves a number of important issues. While there is picking out a dress and choosing what dinner to serve guests, there are also a number of other important considerations to make prior to your wedding day. This includes addressing a number of important legal issues to make sure that you do not end up compromising your future.
Create Your Estate Plan
After you get married, you will often need to include your new spouse in your estate planning documents, including your living will, living trust, and power of attorney. If you do not yet have these documents written, now is a good time to do so. If you already have written these documents, it is important to make certain that they are adequately updated.
Discuss the Possibility of a Prenuptial Agreement
Despite what many people think, prenuptial agreements are not only used to protect a person in case of a divorce. Prenuptial agreements also allow spouses to disclose their financial status prior to marriage so both individuals are aware of the financial arrangements and can create a plan to manage their finances together.
Determine How the Marriage Will Affect Children
If you have children from a previous relationship, it is important to decide whether you are going to change guardianship or custody of the children following marriage. Altering children’s lives in such a way can have a substantial impact on how your children are raised, which is why it is important to fully discuss matters with them as well as to bring this topic up with anyone else who might be affected by these changes.
Tax Issues
After marriages, couples are able to transfer assets between each other without having to be concerned about capital gains tax. In some cases, marriage can also impact previous divorce settlements. It is also important to consider how you will file your taxes following the marriage.
Pension Issues
There are a number of things to consider about receiving a pension following a wedding. After getting married, you will receive new pension rights and are able to change your nominated beneficiary to reflect your new spouse. It is important to fully account for any changes that should be made pension before getting married.
Changing Your Name
While traditionally women change their last names to match that of their husband, this is not always true in the modern era. Instead, some couples choose to take the wife’s name, keep their own names, or make up a completely new shared last name. It is important to consider how, if at all, names will change following the marriage. It is also important to determine what identification must be changed.
Speak with a Knowledgeable Family Law Attorney
If you are planning on getting married, it is a wise idea to fully address each important legal issue first. One of the best ways to fully account for these issues is to speak with a knowledgeable family law attorney. Contact Vayman & Teitelbaum P.C. today to schedule an initial case evaluation.