Critical Documents For Your New Spouse

 Posted on July 10, 2012 in Estate Planning

After your wedding, it is easy to fall into that post-wedding bliss and forget about things that need to be taken care of in the real world. It is crucial that you take the time to fill out some basic legal forms for you and your new spouse. These documents include papers like the living will, powers of attorney, and HIPAA authorization forms.

Here are a few things you need to consider, even though you might not want to talk about such issues right after tying the knot.

Who will get what? Wishes regarding asset distribution.

Most people have belongings that hold more value, whether sentimental or financial, to someone other than their spouse. Even the most honorable families can be taken over by greed, so just telling your spouse that your old ice hockey card collection should go to your nephew might not be enough. To make sure your assets go to the person you want them to go to without a lot of pointless drama, have these wishes included in a proper legal document. Basic asset distribution can be laid out in a basic last will.

Who will take the reins? Financial and health information.

Your spouse has the legal right to make medical decisions for you if you become incapacitated, but they do not automatically have access to your medical records. To make sure they have all the information they need for making decisions regarding your health, get a healthcare power of attorney and HIPAA authorization. The same goes for your financial information. Without a property power of attorney, your spouse will not be able to access your business account to pay your bills when you are unable to do so.

What should be done? Quality of life concerns and final wishes.

People rarely talk about life support or burial issues when they are dating, but it is important to go over these things with your spouse. Your spouse might not agree with your parents on what should be done, when, and how. Stating your wishes in a living will can make things easier for your family regarding quality of life issues, and having a basic last will should make burial issues easier to resolve.

To ensure that your wishes are carried out following your death, employ a top Illinois estate planning lawyer to draft your will and other important estate planning documents.