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Updating your will after marriage

On Behalf of | Dec 11, 2020 | Estate Planning |

If you made a will as a single person, you’ll perhaps have done so with the belief that you won’t get into another serious relationship or get married in the future. Of course, life takes twists and turns, and unexpected things happen. It’s important that you update your will in accordance with what changes in your life, because if you don’t, your will may not reflect your last wishes.

There are many reasons why you should take action to update your will when there is any big event in your life. When you get married, you should always create a new will, and so should your spouse. The following are some reasons to ensure that you create or update your will as soon as possible after you get married.

State laws have inheritance guidelines for surviving spouses

If you do not update your will or do not have a will when you pass away, it’s likely that your spouse will inherit a certain portion of your estate depending on state law. However, you may have your own specific preferences regarding how you would like your assets to be divided.

It may be that you want your entire estate to go to your surviving spouse. Alternatively, you may have certain separate assets that you would like to be inherited by other members of your family. It is important that you update these types of details after you become married so that it is clear that these are your updated wishes.

Remember other types of property should be updated

If you get married, you may also want to update the named beneficiary on certain assets such as your life insurance or retirement plan. You can name a beneficiary on these assets so that they can bypass the probate process.

If you recently got married or you are planning to get married, make sure that you have done the necessary actions in Minnesota to update your estate plan accordingly.