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Estate Planning Tips for Newlyweds

If you recently got married or are planning to get married, there are some legal matters that you should consider before or shortly after you get married.

First, if you don’t have a will, you need to create one. If you have an existing one, you need to update it. You may not want to be thinking about a will during such a happy time in your life, but it is essential to have something in place.

Update your account beneficiaries, if you have any. These include any recipients you have on bank accounts, insurance policies, retirement and investment accounts, and health savings accounts.

Lastly, name a power of attorney. You should decide who you want to handle your financial affairs if you become unable or pass away. You and your spouse should also discuss naming a power of attorney if something happens to both of you at the same time. This person will be in charge of your bank accounts, bills, investments, and taxes, so it will need to be someone you trust.

If you need some help covering your estate planning, and any other legal real estate advice, O’Dekirk, Allred & Associates, LLC is a real estate law firm in Joliet. Contact us today if you need a real estate attorney Joliet based, or nearby.

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