Your Future Together: The Couple’s Guide to Wills and Estates

Future-Proofing Your Love Story

In the spirit of Valentine's Day, my wife reminded me that the greatest acts of love extend beyond flowers and chocolates. As Mrs. Moore Legal Counsel says, “the greatest acts of love are shown by securing a future for those we hold dear.” Whether you are a newlywed still basking in the joys of a shared life with your spouse, or a new parent embracing the happy chaos of your child’s arrival, estate planning is a dedicated and profound expression of your love and care for those you love most.

At Moore Legal Counsel, we understand the importance of planning.

That's why we're offering a heartfelt promotion to make estate planning for Newly Weds and New Parents more accessible than ever before. It's our way of helping you celebrate your love by safeguarding your family's future, ensuring that your wishes are honored and your legacy is protected. So read on to learn why and how you can provide for those you love most.

Section 1: Why Newlyweds Should Have a Will

Starting Married Life on Solid Ground

Embarking on married life is a profound commitment, not just to each other but to the shared future you envision. Amidst the excitement of this new chapter, it’s crucial for newlyweds to lay a strong foundation for this future together. Estate planning, and specifically creating a will, is a critical step in this process. It ensures that your joint aspirations and the wealth you build together are protected, and that you both have a say in each other’s care and how your assets are handled in the event of the unforeseeable. A will solidifies your intentions for your assets, guardianship decisions, and healthcare directives, ensuring that your spouse and any future children are taken care of according to your wishes.

Common Misconceptions Addressed

"We just got married; estate planning can wait." - The early days of marriage are filled with planning for the immediate future: your home, careers, and perhaps starting a family. However, part of building your life together is also preparing for all eventualities. Pennsylvania law does provide for spouses in the absence of a will, but it may not cover all assets or reflect your personal wishes, especially for specific bequests, charitable donations, or considerations for stepchildren.

"My spouse will automatically take care of everything." - It's comforting to believe that your spouse will automatically inherit everything and manage it according to your wishes. However, the reality under Pennsylvania law can be quite different. Without a will, state intestacy laws take over, and while your spouse may receive a portion of your estate, the exact distribution depends on whether you have children, parents, or other relatives alive. This can result in a significant portion of your estate being directed away from your spouse, which likely does not align with your intentions. Additionally, without a will specifying your wishes, your spouse may face challenges in being appointed as the guardian of your children, especially if there are competing claims from other relatives.

"Everything is jointly owned, so I don't need a will." - Many couples believe that joint ownership of property and accounts negates the need for a will. While it's true that jointly owned assets with rights of survivorship will pass directly to the surviving owner, not all assets are or can be jointly owned. Personal items, digital assets, and certain types of financial accounts may not transfer automatically upon death. Furthermore, without a will, you lose the opportunity to designate who should inherit any assets you own individually or to provide instructions for the care and financial support of your children. Pennsylvania law will dictate the distribution of these assets, which may not reflect your personal preferences or the needs of your surviving family members.

Promotion Highlights

Those married in 2021 or later are eligible to receive 50% off their Wills & Estates Consultation. Click the button below to claim your discounted consult today!

Section 2: Why New (And Expecting) Parents Need a Will

The Basics of Estate Planning for New Families

Becoming a parent is a transformational experience that reshapes your perspective on the world and your priorities within it. Suddenly, you're not just living for yourself but for the tiny human you've brought into the world. It's a role filled with immeasurable love and immense responsibility, compelling you to ensure their safety, happiness, and well-being at every turn. Estate planning, often perceived as a concern for later years, emerges as a critical aspect of this responsibility. A will is much more than a document outlining who gets what; it's a safety net for your child's future, specifying guardianship and financial provisions in your absence. It ensures that your child will be cared for by individuals you trust, in a manner you deem fit, and with the resources you've set aside for them.

Common Misconceptions Addressed

"I don't have enough assets to need a will." - A common misconception among new parents is the belief that a will is only necessary for those with significant assets. In Pennsylvania, like in many states, a will is crucial for several reasons beyond asset distribution. It allows you to designate a guardian for your children, a decision that, without your explicit instructions, would fall to the courts. This can lead to family disputes or your children being placed in care not aligned with your wishes. Moreover, even modest assets and personal belongings can become entangled in probate without a will, delaying distribution and potentially incurring unnecessary expenses. Pennsylvania law does not automatically distribute assets in a way that might align with your personal wishes, especially in cases of complex family dynamics or unmarried couples.

"A Will is Mainly About Asset Distribution." - Many new parents might think a will is primarily for dividing up their estate among heirs, but its significance goes far beyond that, especially when it comes to your children. In Pennsylvania, a will is essential for appointing a guardian for your children if both parents were to pass away unexpectedly. Without your clear directives in a will, the court decides who will raise your children, which may not align with your preferences or your children’s best interests.

"My Family Knows My Wishes for My Children’s Care." - Relying on verbal understandings or assumptions that family members will honor your wishes regarding your children's care can lead to disputes and court interventions. Pennsylvania courts follow legal standards and procedures that may not reflect your spoken intentions. A will provides a legally binding document that specifies your wishes, including who you trust to take on the guardianship of your children, ensuring your choices are clear and must be followed.

"My Children Are Too Young for Me to Worry About Setting Up a Trust." - It’s a common misconception that trusts are only for older children or for managing substantial assets. However, setting up a trust within, or supplemental to, your will can provide for the prudent management and protection of any assets you leave to your children, no matter their current age. Trusts can specify conditions for use, such as education expenses, health care, and support into adulthood, ensuring your children benefit from your assets in a manner you deem appropriate.

Promotion Highlights

Parents of Children born on or after January 1st, 2023 (or with a child due to arrive in 2024) are eligible to receive 50% off their Wills & Estates Consultation. Click the button below to claim your discounted consult today!

Section 3: Addressing Common Reasons for Avoidance

Navigating through the responsibilities of new parenthood or the excitement of newlywed life, estate planning can often fall by the wayside, overshadowed by more immediate concerns and joys. However, understanding and addressing the common reasons many young couples and new parents avoid this crucial step can demystify the process and highlight its importance.

"I’m Too Young to Worry About a Will"

The belief that estate planning is reserved for the elderly is a significant barrier for many. Life, however, is unpredictable, and the true value of estate planning lies in the ability to provide security and clarity for those you love no matter your age. For newlyweds and new parents, estate planning is not about dwelling on the negative; it's a proactive measure of love to ensure your wishes are known and respected, and that your loved ones are protected, regardless of what the future holds.

"The Process Is Too Complicated and Expensive"

The perception that estate planning is a complex and costly process can deter young families from starting. While it's true that estate planning involves important decisions and legal documentation, firms like Moore Legal Counsel are dedicated to making the process as straightforward and accessible as possible. With our 50% off promotion, we aim to alleviate financial concerns and make the process more accessible than ever before. Estate planning doesn't have to be daunting or prohibitively expensive; it's an essential step in safeguarding your family's future.

"I Don’t Even Know Where to Begin”

1. Determining Assets and Current Ownership

   A comprehensive review of your assets and how they are owned is a vital step in estate planning. This includes bank accounts, real estate, investments, life insurance policies, and personal property. For newlyweds, this step often involves consolidating assets or changing beneficiary designations to reflect your new marital status. Understanding the current ownership of your assets helps in deciding how they will be distributed and can highlight the need for additional estate planning tools, such as trusts, to manage your assets effectively.

2.  Assess Whether You Want to Leave Any Assets to a Charity or Nonprofit

   Many individuals and couples feel strongly about supporting charitable causes that are close to their hearts. Estate planning provides an opportunity to leave a lasting legacy by designating a portion of your assets to a charity or nonprofit. Assessing which causes you may wish to donate to can not only help your estate but allow you to plan how you will give during your life.

3.  Choosing a Guardian for Children (If Applicable)

   One of the most crucial decisions for new parents in the estate planning process is appointing a guardian for their children. This decision ensures that, in the event of an unforeseeable tragedy, your children will be cared for by someone you trust and who shares your values and parenting philosophy.

Take Action & Secure Your Wishes Through the Future

As you navigate the joys and challenges of being newlyweds or new parents, taking the step to establish or update your estate plan is an act of profound love and foresight. It ensures that your wishes are honored, your assets are protected, and most importantly, your loved ones are cared for, according to your desires. Estate planning is not just about preparing for the unforeseen; it's about creating a secure future for your family and supporting the causes that matter most to you.

Moore Legal Counsel is committed to guiding you through this essential process with compassion, expertise, and personalized attention. Whether you're starting from scratch or need to adjust your estate plan our Limited Time Only 50% off promotion means you can get competent legal assistance more accessibly than ever before.

Don't wait to protect what matters most. Take the first step towards securing your family's future today. Click the button below to schedule a consultation, or reach out to us at Info@MooreLegalCounsel.com for more information. Let us help you craft a legacy that endures, ensuring your love and values are felt by generations to come.