Marriage is a significant life event that brings about various changes, including legal and financial implications. As you begin this new chapter of your life, it is crucial to consider the impact of your marital status on your estate plan. In this blog, we will explore why it is essential to review and amend your estate plan after getting married, emphasizing the legal rights and obligations that arise from marriage, particularly in California.
Understanding the Omitted Spouse Statute:
In California, there exists a law known as the Omitted Spouse Statute. This statute grants certain rights to a spouse who has been unintentionally left out of the deceased spouse’s estate planning documents. In other words, even if you do not intend to include your new spouse in your estate plan, they can petition the court after your death to claim a portion of your estate as their legal entitlement.
Consider the following scenario: John, a single individual, created an estate plan that designated his assets to be inherited solely by his two children from a previous relationship. However, after getting married, John failed to update his estate plan to include his new spouse. Tragically, John passes away shortly after their honeymoon. In such a situation, his spouse can file a petition with the probate court, asserting her legal right to claim one-third of John’s entire estate, including assets held within his trust. The court would likely grant her claim unless there is substantial evidence that John explicitly intended to exclude her.
The Importance of Amending Your Estate Plan:
To avoid such complications, it is crucial to promptly review and amend your estate plan after marriage. Even if you do not plan to include your spouse as a beneficiary, it is essential to document your intentions clearly. By consulting with an attorney and signing a simple amendment to your estate plan, you can confirm that your marital status has changed, while reaffirming your existing wishes regarding asset distribution.
The Power of Proper Documentation:
In the case of John, had he taken the necessary steps to amend his estate plan immediately after getting married, he could have provided crucial evidence to support his intentions. By documenting his decision to exclude his spouse, John would have strengthened his children’s position and diminished the likelihood of a successful omitted spouse petition. Therefore, it is essential to ensure that your estate plan accurately reflects your wishes and offers legal protection to your loved ones.
When entering marriage, it is vital to understand the legal implications it brings to your estate plan. Updating your estate plan after marriage, even if you do not plan to include your spouse as a beneficiary, is essential to protect your assets and ensure your wishes are honored. By consulting with an attorney and documenting any changes, you can safeguard your estate from potential complications and provide clarity regarding your intentions. Remember, timely action and proper documentation can make a significant difference in securing your estate for your loved ones.
