Estate Planning for Engaged Couples: 5 Smart Steps to Take Before the Big Day
You’re in one of the most exciting seasons of your life—preparing to marry your partner and start a future together. Between wedding planning, guest lists, and all the celebrations, it’s easy to overlook less glamorous topics like estate planning. Still, taking time to prepare now can protect both of you down the road and set a strong foundation for your life together.
Here are five essential estate planning tips every engaged couple should consider:
- Consider a Prenuptial Agreement
Also known as a “prenup,” this legal contract is signed before marriage and outlines how assets and finances will be handled during the marriage and in the event of divorce or death. A prenup is especially important if one of you is entering the marriage with significant assets, debts, or earnings. While it may not be the most romantic conversation, it’s a practical one—and it’s worth scheduling dedicated time to explore whether it’s right for your relationship.
- Review and Update Your Estate Plan
If you already have an estate plan in place, it likely won’t reflect your new marital status. Getting married changes everything—from your legal rights to how your assets are distributed. A consultation with an estate planning attorney can ensure your plan accurately reflects your upcoming life changes.
- Update Beneficiary Designations
Many assets—such as life insurance, retirement accounts (like IRAs and 401(k)s), and payable-on-death bank accounts—are passed on through beneficiary designations, not your will. Review your current designations and decide whether your future spouse should be listed. If so, make sure those updates are made across all relevant accounts.
- Plan for Real Estate
If you plan to live in a home that one of you already owns, it’s important to decide what happens to that property if the original owner passes away. Will the surviving spouse inherit the property? Will they have the right to live there for a certain period? These decisions should be reflected in both your prenuptial agreement and your estate plan to avoid confusion later on.
- Secure Life Insurance
Roughly half of Americans don’t have life insurance—yet it’s one of the simplest ways to protect your partner financially in the event of an untimely death. Many couples rely on dual incomes, and losing one can be devastating. Life insurance provides a financial cushion that can help your spouse manage expenses and maintain stability during a difficult time. If you don’t already have coverage, now’s the time to look into it.
Final Thoughts
Estate planning might not be on your wedding Pinterest board—but it’s a meaningful act of love and responsibility. Taking the time to plan now ensures that your new life together is protected, no matter what the future holds.
These legal topics are provided to you by the President of QMC, Mark Easley. While QMC does not engage in the practice of law, Mr. Easley has practiced estate planning and elder law for over 30 years and is currently the principal at the Elder and Estate Planning Law Firm of St. Louis.