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A wedding begins a beautiful new chapter, filled with shared dreams and exciting possibilities. As you celebrate your life together in vibrant communities like Waco or historic Georgetown, your focus is naturally on building a shared future, not on contemplating the unexpected. However, marriage is a monumental life event with profound legal consequences that directly impact your assets, property, and your spouse’s well-being. While you are young and deeply in love, proactively planning for your estate now is one of the most compassionate and responsible actions you can take for each other. It’s a testament to your commitment, ensuring that even in unforeseen circumstances, your loved one is protected and your wishes are honored.
As a newly married couple, estate planning extends beyond simply writing a will. It involves thoughtfully constructing a comprehensive legal framework designed to safeguard your spouse’s future and to fulfill your personal desires regarding your legacy definitively. At Rainey & Rainey, PLLC, Attorneys at Law, our goal is to empower you to create an estate plan confidently, ensuring peace of mind for your new life together.
Your Assets and Texas Community Property Law
Before you were married, your assets were considered your separate property. This includes anything you owned before the wedding and any gifts or inheritances you received, even after you were married. In Texas, we operate under a community property system. This means that, with few exceptions, any property you acquire while you are married is considered to be owned equally by both of you.
This distinction is essential. Your income, the home you buy together near the Brazos River in Waco, or a car purchased in Georgetown, are all considered community property. The law sees it as shared even if only one spouse’s name is on a title or account. We work with couples to help them understand their property and how it will be treated under the law.
The Problem of Intestacy for Married Couples
When a person dies without a will, it is called dying intestate. Many newlyweds assume that the surviving spouse would automatically inherit everything if something happened to one of them. In Texas, this is not always true. Texas has a set of rules in the Estates Code that dictate how assets are divided when there is no will.
For example, if a married person dies without a will but has children from a previous relationship, the surviving spouse does not inherit all the community property. The spouse only inherits the decedent’s half of the community property, while the children from the previous relationship inherit the decedent’s half. The surviving spouse would also inherit only a portion of any separate property, with the children inheriting the rest. This situation can be heartbreaking for a surviving spouse, and it’s easily avoidable with a clear, written plan.
The Cornerstone of Your Plan: A Will
A will is the foundational document of any estate plan and is vital for newlyweds in Texas. A will allows you to direct who inherits your property, name an executor to manage your estate, and even nominate a guardian for any future children you may have.
Under the Texas Estates Code, for a will to be valid, it must be in writing, signed by you, and attested to by two credible witnesses over 14 who sign in your presence. While Texas law allows handwritten wills without witnesses, we find it much safer and more reliable to create a properly drafted document. A formal will can help prevent disputes and make the probate process much smoother for your surviving spouse.
Powers of Attorney: Planning for Incapacity
Estate planning is not just about what happens after you die. It’s also about what happens if you become unable to manage your own affairs due to an illness or injury. For a married couple, this is a particularly sensitive topic. Many people assume their spouse has the automatic legal authority to handle their medical and financial decisions, but this is not always true.
This is where powers of attorney become essential. A Durable Power of Attorney for finances, governed by the Texas Estates Code, lets you name your spouse as your agent to handle your financial matters if you become incapacitated. A Medical Power of Attorney gives your spouse the authority to make healthcare decisions on your behalf. Without these documents, a court may need to appoint a legal guardian, which can be expensive, time-consuming, and public. These legal protections offer crucial peace of mind for couples in the Georgetown, Temple, Belton and Williamson County areas, or Waco and McLennan County.
Our Compassionate Approach to Planning
At Rainey & Rainey, PLLC, Attorneys at Law, we are a compassionate team dedicated to helping you create a plan that fits your new life together. We focus exclusively on Elder Law, which means we work to stay informed on the most current information in this area. Our attorneys typically use flat fees, so once we understand your needs, you can clearly understand the full cost of the work you need done.
A good estate plan for newlyweds is about more than just legal documents; it’s about providing security and care for the person you love most. We invite you to contact us for a consultation. We have offices in Waco and Georgetown. You can reach us at (254) 752-8644 or (512) 598-9005.
