So, you have tied the knot. Whether six months or 60 years ago, congratulations! With each marriage comes new rights and new responsibilities. Remember that in sickness and in health part in traditional wedding vows?
If you already have an estate plan created when you were Single, then you must bring your estate plan up-to-code to reflect your wedding vows. Read on to learn why estate planning for married couples is essential.
Unfortunately, many married couples mistakenly believe they can make personal, health care, and financial decisions for one another should either spouse become legally incapacitated due to a serious injury or illness. Nothing could be further from reality!
Without proper estate planning for married couples in advance to appoint your spouse as the incapacity decision-maker, he or she will not have legal authority to make even fundamental decisions for you (or affecting both of you). For example, medical privacy laws will bar access to your medical records and the ability to consult with your attending physician, financial laws limit control over your finances, and IRS regulations will prohibit filing a “legal” joint income tax return … for starters.
Unless you legally appoint the decision-maker of your own selection in advance through proper estate planning for married couples, then a probate judge will select one for you. While the judge will likely appoint your spouse, the probate court process to accomplish this is expensive (it employs at least three attorneys), discloses your private personal and financial information to the public record and is a real hassle for your spouse.
While the formal name for this probate process is a guardianship and conservatorship, we affectionately refer to it as the lawyer full-employment program.
Did you know that, in the absence of proper estate planning for married couples, your assets may be distributed after death based on “one-size-fits-all” state laws written for people who do not have their own estate plans? Of course, this impersonal estate plan written by state lawmakers may not reflect your own unique circumstances and objectives for your spouse and assets.
In fact, depending on how you titled your premarital assets and how your beneficiary designations are arranged, you may disinherit your own spouse and force your spouse to sue your estate!
Fortunately, we can help you avoid the lawyer full-employment program and replace that impersonal, state-written, one-size-fits-all estate plan with one we design together for your unique circumstances and objectives. We even help you coordinate the beneficiary designations on your life insurance and retirement plans with your estate plan to avoid unpleasant, unintended consequences.
We can help you protect everyone you love and everything you have. There are three ways to schedule your complimentary initial consultation: first, give us a call; second, send us an e-mail; or, third, Request Initial Consultation/Review online.
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Mary D. CushingFebruary 12, 2024Highly recommend the people and services in this law firm.Anita FinnJanuary 25, 2024Kyle was patient and thorough. He was able to explain the legal concepts in an easy to understand manner.Susan HerwigJanuary 19, 2024I am a 2nd generation family member to use the Law Office of Kyle Krull , PA and I couldn’t be happier with my experience and estate plan!Kathleen DeMunckJanuary 17, 2024Our two meetings and communications with Kyle and Gretchen Krull were excellent. They are knowledgeable, able to explain the difficult concepts of Estate Planning and have thought of every detail needed to make one comfortable with the end result. Their patience with my many questions was extraordinary. We especially appreciated their connection to us. They are people who care.Kate EsquivelJanuary 17, 2024Highest of ratings! We had met with a few firms to finalize our estate and knew immediately upon meeting these two this would be it. Explained everything to our understanding, gave us guidance, and never felt rushed or sold! Recommending them to everyone I know!Gary WellsJanuary 10, 2024Kyle has been our Estate Planning Attorney for the last 12 years. During this time he has listened carefully to our wishes, asked thoughtful questions, and created plans that exceeded our expectations. Highly recommend!Merideth RoseNovember 16, 2023My mother and I cannot speak highly enough about our experience with Kyle and Gretchen Krull. Having conducted extensive research on estate planning attorneys best suited to support my mother in updating her revocable living trust, health directives and other estate planning documents, we were first drawn to Kyle and Gretchen due to the plethora of positive reviews we found in conjunction with their services. Having completed the process and now with current and finalized documents, we can attest to the quality, attention, great sensitivity and trauma-informed personal touch Kyle and Gretchen provide. Assisting my mother who is of age and at times found this process to be a bit daunting, Kyle approached my mother, her needs and the totality of her experience with great grace, patience and thoroughness. I like to believe he cared for my mother, only as I would and could. Our hearts and minds are now with great comfort in knowing her wishes for her personal and financial affairs have been adequately heard and prepared for. Indeed we are grateful to have met Kyle, and now to be considered as clients of the Krull family.Melinda EmigSeptember 20, 2023Kyle returned my call the same day to speak with my mom and me about her trust/estate status and gave my mom spot on advice/insight without charging my her. My mom has extremely limited vision, and a family member had taken documents from her trust/will out of her home without telling her. After our initial call, mom hired Kyle. He made sure all my mom’s PoA's, Addendums, etc. were in order, updated, and delivered to her within a few days. Kyle has vast knowledge in all estate planning, wills, and trust matters. His kindness and integrity were apparent from our first call and meeting. His staff is very professional (Gretchen is amazingly helpful and responsive). Kyle guides his clients through the trust/will/estate procedure with knowledge, insight and efficiency while taking great care of his clients which made the entire process easy!Pascal LutzSeptember 10, 2023My spouse and I had a great experience working with Kyle and Gretchen to get our estate planning organized. We felt we received good advise and that the process was smooth and efficient. We recommend Kyle and Gretchen without any hesitation.
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