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Estate Organization After a Marriage Checklist

Use this Estate Organization After a Marriage Checklist to update your estate planning documents and manage your assets effectively after tying the knot.

  • Update Your Will: Modify your will to include your spouse as a beneficiary and consider any new provisions needed.
  • Revise Trusts: If you have any existing trusts, update them to include your spouse and reflect your current wishes.
  • Adjust Powers of Attorney: Designate your spouse as your financial and medical power of attorney if desired.

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    • Update Financial Accounts: Change beneficiary designations on life insurance policies, retirement accounts, and bank accounts to include your spouse.
    • Transfer on Death (TOD) Accounts: Ensure TOD accounts reflect your spouse as a beneficiary where appropriate.
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  • List Joint Assets: Create a detailed list of all assets acquired during the marriage, including real estate, vehicles, and joint bank accounts.
  • Document Joint Debts: Make a list of any debts incurred during the marriage, such as mortgages, loans, or credit card balances.

Gather Key Documents: Collect important documents such as:

  • Marriage certificate
  • Wills and trusts
  • Financial statements (bank accounts, investment accounts)
  • Insurance policies
  • Property deeds and titles

  • Evaluate Insurance Needs: Discuss whether additional life insurance is necessary to protect your spouse’s financial future.
  • Retirement Accounts: Review and update beneficiaries on any retirement plans to ensure your spouse is included.

  • Estate Attorney: Consider hiring an estate attorney to help navigate the complexities of updating your estate planning documents.
  • Financial Advisor: Work with a financial advisor to ensure that your financial plans align with your joint goals and estate planning.

  • Discuss Changes: Inform family members about changes to your estate planning documents and new beneficiaries.
  • Consider Children’s Interests: If you have children or plan to, discuss how they will be included in your estate planning.

  • Anticipate Life Events: Discuss how future life events (children, job changes, relocation) may impact your estate planning.
  • Update Regularly: Set reminders to review and update your estate planning documents regularly, especially after major life changes.

  • Organize Documents: Keep your estate planning documents, financial records, and important papers in a secure and easily accessible location.
  • Digital Backup: Consider storing digital copies of important documents on a secure cloud service or external drive.

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The average estate takes 570 hours to administer.

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