Connors & Sullivan attorneys at law, pllc
Tell Us About Your Estate Planning Needs:

5 estate planning documents to update when you remarry

A second marriage brings unique estate planning needs. Although some may view the need to discuss an estate plan as a relatively morbid topic, the discussion can prompt a conversation about future goals.

Five specific documents to discuss when outlining these goals include:

1)   Will. This estate planning document provides an opportunity to specifically outline who you want to get what. You can better ensure your intended heirs benefit from your estate by actively reviewing and updating this document on a regular basis. Certain life events will also trigger an update, like a second marriage.

2)   Trust. If drafted wisely, a trust can further protect assets and better ensure distributions move forward as intended.

3)   Health care proxy. A health care proxy is a legal document that provides guidance on your wishes regarding medical care in the event of incapacitation. The document will also give another the power to make decisions regarding your medical needs. A failure to update this document can result in your ex having a say on medical decisions in the event you are incapacitated.

4)   Durable power of attorney. This is another legal document that is triggered in the event of incapacitation used to provide another individual with the ability to make financial decisions on your behalf.

5)   Beneficiary designations. Many financial accounts have beneficiary designations. Some examples include retirement accounts, insurance policies and bank savings accounts. If triggered, the funds in these accounts automatically transfer to the individual listed as the beneficiary designation. These designations are very powerful and will generally trump instructions within one's will. Contact the financial institution and ask to update this information to avoid an unintended beneficiary.

A failure to take these steps can result in unintended consequences. This is particularly true for those with children from a previous marriage. A failure to proactively protect assets can result in unintentionally disinheriting children.

A prime example is a family home. Unless action is taken to specifically address these assets, it would most likely transfer to the spouse at the time of death. You can reduce the risk of this and other unintended consequences by taking action and protecting your assets. An attorney experienced in this area of the law can discuss your options.

No Comments

Leave a comment
Comment Information
Your Trusted Guides For Every Stage Of Life And Every Step
Of The Estate Planning Process

Set Up Your Free Initial Consultation

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Connors & Sullivan attorneys at law, pllc

Visit us at one of our 5 locations.

Brooklyn Office
7408 Fifth Avenue
Brooklyn, NY 11209

Phone: 718-414-6209
Fax: 718-238-2616
Brooklyn map

Bayside Office
200-20 Northern Boulevard
Bayside, NY 11361

Phone: 718-414-6209
Bayside map

Middle Village Office
79-43 Metropolitan Avenue
Middle Village, NY 11379

Phone: 718-414-6209
middle village map

Staten Island Office
1250 Hylan Boulevard
Staten Island, NY 10305

Phone: 718-414-6209
staten island map

Manhattan Office
110 East 59th Street
New York, NY 10022

Phone: 718-414-6209
Map & Directions