Friday, July 26, 2013

Today is the Deadline for an August 1 Wedding; Plan for the Future



Today is the last day you can make application for a marriage license in order to be married on August 1.  This is because there is a 5-day waiting period on all applications for marriage.  As same-sex couples are now legally allowed to tie the knot, they will be able to receive treatment under the law that is equal to different-sex couples.  In all marriages there will be ups and downs and certain life events that should be planned.  Ben Franklin said “Our new Constitution is now established, and has an appearance that promises permanency; but in this world nothing can be said to be certain, except death and taxes.”  This certainty should be planned for couples that choose to raise children.  The planning for death is never an easy topic to broach, but planning will help your loved ones.

A typical or simple estate package includes a Will, Health Care Directive and a Power of Attorney.  A Will typically accomplishes two primary things.  First, it directs who will receive your "estate" after your death.  Second, it provides instructions about what should happen after your death, including who should care and provide for your children or dependents.  An "estate" includes furniture, jewelry, cars, bank accounts, business, property, and real estate that you own.  In a Will you can direct who is to receive a portion or all of your estate.

The Health Care Directive (also commonly known as a Living Will) is a document that provides instruction on your heath care.  You will appoint a health care representative and provide them with a list of your health care directions.  For example, if you want to be on life support or not.  This document comes into play when you become incapacitated.  The lack of a Heath Care Directive can have dire consequences as in the Terri Schiavo case.  

The Power of Attorney is a document that also will be utilized if you become incapacitated.  You will appoint a power of attorney allowing this person to continue on with your financial affairs.  For example, the payment of bills.

Since the amendment to the marriage statute was signed into law there has been great anticipation for August 1 with a large jump in the number of applications for marriage licenses.  Having a little forethought and planning for the certainty of death now will lessen the burden on your loved ones in the future.

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