A WEDDING CHECKLIST:  The Legal Side of Marriage

By:  Sandra L. Clapp, Esq.

Planning a wedding can be an exciting process.  Although the legal implications of a marriage are not as exciting to consider as picking out the cake or dress, your wedding checklist should include a few steps to consider the legal effect of the pending nuptials.  After the wedding, the failure to consider these legal issues can have devastating or unintended impact on your spouse or other family members.

DISCLOSE ASSETS AND LIABILITIES. 

Idaho is a community property state.  Any asset acquired during marriage will be presumed to be the community property of the couple.  Separate property is generally described as those assets acquired before marriage or those assets acquired during marriage by gift, inheritance, devise or bequest.  In Idaho, income generated from separate property and income from employment is community property. The person who asserts the asset is separate property will be required to establish the separate character.  Merely keeping assets in an account or titled in the name of one spouse may be insufficient to retain the separate character of the asset.  The use of a written agreement signed by both husband and wife may be necessary to carry out the intent on character of assets.  Liabilities existing before marriage may be considered separate, but the creditor may have the right to collect the debt against all of the debtor’s separate property plus all of the community property.  Before marriage come to agreement on what assets will remain separate, what liabilities will remain separate, and how your income and expenses will be handled.  The character of assets may be particularly important for second marriages if children or other heirs already exist.

PREPARE A WILL. 

After marriage, a surviving spouse will be entitled to receive an intestate share of the decedent’s estate if he or she was not contemplated in the estate documents (known as the “omitted spouse”).  Even though you may intend the provisions of your existing will to control, it is important to acknowledge the existence of the spouse in your will or testamentary documents.  The failure to update your will can result in the surviving spouse receiving more (or less) than you intend.  Under intestacy, the surviving spouse may inherit all of the community property and one-half of the separate property even if your intent is for all of the assets to pass to your children.

UPDATE BENEFICIARY DESIGNATIONS.   

Review all beneficiary designations on life insurance, retirement assets, annuities or similar property and ensure the beneficiary remains as you desire it.   

POWERS OF ATTORNEY. 

Prepare general powers of attorney for health care and financial affairs to clarify who will be in charge of your assets and health care and to set forth your desires. 

This article is not intended to replace legal advice applicable to your situation and should be used only for informational purposes.  As each set of circumstances is unique, please do not rely upon this information without seeking qualified assistance.