Covid 19 - The Wedding Is Delayed - Now What?

​You’ve purchased the rings. The church and reception hall have been booked. The invitations have been mailed. Now, you’re just waiting for the big day to arrive. There’s enough disappointment  to go around for everyone during this pandemic, but one of the biggest frustrations has to be the postponement of a wedding. If you’re one of the unfortunate individuals whose wedding has been delayed, you probably find yourself waiting for restrictions to be lifted so you can proceed with your big event. While your plans are on hold, here are some things to consider that will get your upcoming marriage off to the right start:
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• Discuss creating a Will or Trust with an experienced estate planning attorney, or updating your existing document to add your new spouse. Tell your attorney about your current asset holdings and any potential inheritances that you may receive, including, but not limited to, real property, life insurance, bank accounts, investments, and retirement accounts.
• Visit with your attorney and decide whether a pre-nuptial agreement is appropriate;
• Update your Health Care Power of Attorney, Durable General Power of Attorney and HIPAA Authorization to add your new spouse;
• Consult your financial advisor and life insurance agent to confirm the beneficiary designations on your investments, retirement accounts, annuities and life insurance policies;
• Visit with your tax advisor about any potential tax changes due to the upcoming change in your marital status;
• Look into whether life insurance for you or your new spouse is appropriate if you do not already have coverage. You may need to consider increasing coverage that you currently have in place to protect your new spouse in the event of your death;
• Instruct your company human resource department to add your spouse to your health and life insurance, if necessary;

You should notify the following companies and agencies if you have elected to change your name: Social Security Administration; Telephone, utility, satellite/cable/dish companies; bank and financial institutions; employer; Motor Vehicle Department; Passport office; insurance agency; creditors and debtors; government benefit office; and schools.
 
If you previously contacted these individuals or institutions, you may want to advise them of the change of your wedding date. Also this is not an exhaustive list, but should give you a good place to begin your new life as a married person. For more information on estate planning matters please contact Davis & McCann, P.A., Dodge City, Kansas. We are members of WealthCounsel, a national consortium of Estate Planning Attorneys, and NAELA, the National Academy of Elder Law Attorneys. We focus on providing the best legal advice on Estate Planning, Medicaid and Long-term Care Planning, Special Needs Planning, Business Formation, Family Business/Small Business Succession Planning, Probate, Trust Administration, Real Estate Transactions and related matters.
 
 

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