If you do not want to leave at least 30% of your assets, and your home, to your spouse, a pre-marital agreement may be the best method of passing assets according to your wishes. A pre-marital agreement allows both spouses to deviate from the automatic rules and has fewer technical requirements than a post-marital agreement.
Even if you like the automatic rules that apply upon marriage, consider what happens when the second spouse dies. If you do not have a will, all of your assets will pass to your spouse (or 50% to your spouse and 50% to your children). When your spouse dies without a will, everything will pass to his or her blood relatives cutting out your children, relatives, friends, or favorite charities. This is probably not what you prefer.
Marriage brings new possibilities and a bright future, but it does not replace life planning. To find out how marriage affects your personal circumstances and how life planning can help you and your spouse achieve your goals, schedule a complimentary consultation with Cathy today.