couple financing

Estate Planning: 3 Topics to Discuss with Your Spouse

It can be challenging to create a comprehensive estate plan when you need to be in absolute agreement with your spouse. However, with open conversations and a little compromise, many estate planning issues can be avoided. To help you along the way, our Rockford estate planning attorneys provide you with various topics you should discuss with your spouse when creating an estate plan.

#1: Determine Child Guardianship

One of the most important topics you should discuss with your spouse is who to name as the guardian of your minor child(ren) when developing an estate plan. With a will, the court will know who you want to leave your children with in the event that both of you pass away. Without a will, the court will be the one who decides who your child(ren) would be left with.

#2: Health Care Plan

Another important topic to discuss with your spouse is your health care preferences. Planning health care preferences is another important topic to include in your estate plan because it will ensure that your preferences are met in case you can’t consent to procedures after an illness or injury. Your spouse should be aware of your preferences and you can make them legally authorized to make decisions for you if you are unable.

#3: Appointing Beneficiaries

One of the main objectives of an estate plan is to divide and seamlessly transfer your assets to those you love. However, it can get very complicated to determine who you want your beneficiaries to be if you and your spouse aren’t on the same page. In some cases, one spouse wants to distribute assets outside of the family and the other spouse disagrees. That is why it is important to discuss this with your spouse.

Creating an estate plan can be a long and complex process. If you need legal guidance creating your estate plan, contact our Rockford estate planning attorneys today at (800) 639-1488 to schedule a consultation!

Categories