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Prioritizing Estate Planning: A Guide for Engaged Couples

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Explore the importance of estate planning for newlyweds and discover why Trust & Will serves as a savvy, budget-friendly, and convenient solution for ensuring your future together.

Jessica Bishop Headshot

If you’re reading this, there’s a good chance that you’re currently basking in the glow of engagement and eagerly planning for your upcoming wedding. While this is undoubtedly an exciting time full of love and joy, there are also some practical matters to consider as you prepare to begin your life together. One of those is estate planning.

Now, we know what you might be thinking: “Estate planning? Isn’t that for older people?” or “We don’t have a lot of assets, so why would we need to worry about this?”

It’s important to note that estate planning is not only for the wealthy or the elderly. Every couple, regardless of age or financial status, can benefit from having a plan in place that outlines their wishes for their assets and healthcare decisions.

Why is Estate Planning Important?

When we talk about estate planning, we’re not just referring to who gets what after you’re gone. It’s about more than just finances and property; it’s about planning for the unexpected and ensuring that your wishes are respected, even if you’re unable to communicate them.

We know it sounds a bit dreary amidst all the excitement of choosing flowers and tasting cakes, but it’s an important part of preparing for your life together.

But trust us when we say that it’s never too early to start thinking about these things. Just like with budgeting and saving for your wedding, it’s all about being prepared and making sure you and your future spouse are on the same page.

Estate Planning Matters for Engaged Couples

Being engaged is a critical period in your life, where you and your partner start to merge not only your lives but also your finances. Hence, it becomes crucial to consider your joint estate planning. Here are some key points to consider:

1. Prenuptial Agreement

Often misunderstood, prenuptial agreements aren’t about mistrust or anticipating divorce. They’re about understanding and clearly defining financial expectations and responsibilities within your marriage. This can be especially important if either of you has children from previous relationships or significant assets you want to protect.

2. Powers of Attorney and Healthcare Directives

These documents allow you to designate who will make financial and health decisions on your behalf should you become incapacitated. It’s a sobering thought, but it’s better to have these plans in place and not need them than the other way around.

3. Will and Trust

These documents outline how you want your assets to be distributed after your death. As you’re about to start a new life together, it’s essential to revisit (or create) your will and trust to reflect your new reality.

We understand that estate planning can feel overwhelming, especially when you’re in the midst of wedding planning. But remember, it doesn’t have to be a stressful process. There are resources available online that can help guide you through the process, such as Trust & Will!

online estate planning trust and will

Why Trust & Will is a Savvy Alternative to Expensive Estate Planning Attorneys

While hiring an estate planning attorney can provide expert guidance and ensure legal compliance, it can also be quite costly. According to recent data, the average cost of hiring an estate planning attorney can range from $1,000 to $3,000. On top of that, keeping your documents updated with an attorney can add extra fees over time.

In contrast, Trust & Will offers a more budget-friendly solution. The platform provides the necessary legal documents for estate planning at a fraction of the cost of traditional estate planning attorneys. Their packages start at just $259 for a customized will for couples, and $699 for a revocable living trust. Plus, they offer unlimited updates for one year, and then a low annual fee for continued updates after that.

Another advantage of Trust & Will is convenience. With an online platform, you can create your estate plan from the comfort of your home, on your own schedule. You don’t need to make appointments or travel to a lawyer’s office. Plus, the process is straightforward and user-friendly, making it accessible even if you’re not familiar with legal jargon.

Have open and honest discussions with your partner, and don’t be afraid to seek professional advice if needed. If you need additional guidance or support, you can add on Attorney Support via Trust & Will for more customized solutions for an additional $200. After all, this is all about ensuring a secure and happy future for both of you!

Save Time, Money, and Stress with Online Estate Planning

Just like with your wedding preparations, take it one step at a time. In conclusion, as you prepare to say “I do,” remember that love is not just about the grand gestures and romantic moments. It’s also about taking care of each other and making sure you’re both protected, no matter what the future holds. So, while you’re picking out centerpieces and sampling cake flavors, take some time to talk about estate planning. You’ll be glad you did.

online estate planning trust and will

Jessica Bishop Headshot

Jessica Bishop is the founder of TheBudgetSavvyBride.com, and has worked in various areas and roles within the wedding industry since 2007. She is the author of the best-selling book,The Budget-Savvy Wedding Planner & Organizer and also hosts The Bouquet Toss Wedding Planning Podcast. Jessica's expert wedding advice and savvy savings tips have been featured by Good Morning America, COSMOPOLITAN, Glamour, and more.