The Legal Implications of Marriage

The act of marriage is significant. You may not know that the act of marriage alone can affect the structure of your estate plan.

For example, in most states, a new spouse is automatically entitled to a portion of a deceased spouse's estate (often 1/3) regardless of the terms and provisions of the deceased spouse's Will. Certain retirement plans will automatically change the primary beneficiary to a new spouse, regardless of whether the deceased spouse has an existing beneficiary designation naming another individual, such as a child.

These two examples occur automatically, absent additional planning. If you are contemmplating marriage and especially in cases of a second marriage, please consider the legal consequences of such action. You may be ok with the result, but you might want to discuss a prenuptial agreement or other arrangement. Most folks say that you should not enter blindly into marriage. That advice should also apply to the legal and financial consequences of that instituion.