Getting married later in life can involve financial and family considerations that were not present when you were younger.

You may already own a home, have retirement accounts, investments, a business, or other property. You may also have children from a previous relationship.

Before getting married, it is worth looking at how these things fit into your estate plan.

If you already have a living trust, marriage is a good reason to have it reviewed. The people you named as trustees and beneficiaries may no longer be the people you would choose today.

You should also consider who would make financial and medical decisions for you if you were unable to make them yourself. Your powers of attorney and advance health care directive may need to be updated.

Property is another important consideration.

You and your future spouse may have different assets and financial obligations. You may want certain property to remain separate, while other assets may be shared. These decisions are worth discussing before the marriage rather than leaving them to default rules.

For some couples, a prenuptial agreement may be appropriate.

A prenup and a living trust serve different purposes, but they can work together as part of a broader estate plan. This can be especially important when one or both spouses have children from a previous relationship or significant property acquired before the marriage.

Marriage is a major life change. Taking the time to review your estate plan before or around the time of the marriage can help make sure your documents reflect the life you are building together.

FAQs

Should I update my living trust when I get married?

If you already have an estate plan, marriage is an important reason to have it reviewed. Your existing documents may no longer reflect your wishes.

Do I need a prenuptial agreement if I am getting married later in life?

Not every couple needs a prenup, but it may be worth considering when there are significant assets, separate property, children from previous relationships, or other financial concerns.

Can a prenup and living trust work together?

Yes. They address different issues and can be coordinated as part of an overall estate plan.