Just Married with Minimal Assets? Here’s Why You Still Need an Estate Plan
Getting married is an exciting milestone. If you're newly married and don’t yet have significant assets, you might think estate planning is something you can postpone.
But starting now, before life gets more complicated, can actually be one of the smartest decisions you make together.
1. Marriage Changes Your Legal Standing
Once married, spouses often assume they’ll automatically be able to make decisions for one another in an emergency. But without proper documentation, that’s not always guaranteed. Preparing basic legal tools, such as a Power of Attorney or a Health Care Proxy, ensures your partner can step in if you're unable to make financial or medical decisions on your own.
2. You Don’t Need a Lot of Assets to Justify a Will
Estate planning is not just for wealthy families. A simple Will can address everything from designating a future guardian for children to determining who would handle your affairs should something happen. Even if your estate consists of a checking account, a car, and a few personal items, having a Will in place brings clarity and prevents potential disputes.
3. Digital Assets Count Too
In today’s world, estate plans must also consider digital assets. From email and cloud storage to online banking and social media, your digital presence has value and logistical importance. Including your online assets in your plan can make things easier for loved ones. Learn more about protecting digital assets through estate planning.
4. Planning Now Makes Future Updates Easier
Life changes quickly. A good estate plan is flexible and designed to grow with you, whether you're buying a home, starting a family, or investing for the future. Establishing a basic plan now gives you a strong foundation for future updates and adjustments.
For more resources on estate planning as a newly married couple, visit the Russo Law Offices blog archive which includes step-by-step insights and examples of legal tools that offer peace of mind—regardless of the size of your estate.
Get Started Today: Download our FREE Guide to Writing a Will to learn more about your options and get started with confidence.
*The information provided in this blog post is intended for general informational purposes only and should not be construed as legal advice. Each individual's situation is unique, and the laws regarding estate planning can vary by jurisdiction. It is essential to consult with a qualified estate planning attorney to discuss your specific circumstances and to receive personalized legal advice. Russo Law Offices is not responsible for any actions taken based on the information contained in this post.