Just four years ago over 2 billion people all over the world watched the Royal wedding. And it got me thinking. Weddings, new births, and divorces are all big life changing events, and they can all affect your wishes as to who will inherit your property when you pass away.
Have there been any recent weddings or births in your family? If so you may want to consider reviewing and/or updating your estate plan or creating one if you haven’t already.
And not everyone gets married. For the many couples out there who don’t want to marry, you should be aware of the consequences this can have when they die. No automatic benefits are reserved for co-habitants the way they are for spouses and domestic partners. Also, a lot of people may not realize that California does not recognize common law marriage so, though you may have lived with your partner for many years, it doesn’t mean either of you are automatically entitled to something when the other dies.
So, if you and/or your partner want to make sure the other will inherit something from you, then perhaps you should consider doing some planning.
Depending upon your situation, and especially if you own property or have minor children, you should consider setting up a trust, or at the very least a will, so that your estate passes as you desire. And if you already have a plan in place, you may want to consider reviewing it to make sure it still serves your needs.