Marital agreement, will and power of attorney for the future

Are you familiar with the options available for securing your surviving relatives and articulating your wishes for their lives when you are no longer around? If not, you can get an overview here of the various important documents that are worth knowing about.

Marital agreement

When you marry, you and your spouse automatically have community property.
This means that there is an equal division of assets and effects in the event of the marriage ending, regardless of whether it ends through divorce or death. If you prefer not to transfer 50% of your assets and effects to your spouse in the event of divorce or death, you have to make a marital agreement.

A marital agreement is a written agreement between spouses that protects you in the event of divorce or death. The marital agreement stipulates how assets and/or specific effects should be divided, or not divided, at the end of the marriage.

Drawing up a marital agreement covering separate property may be relevant if you or your spouse have something in particular that you would prefer to keep in the event of divorce. A marital agreement may also be relevant if one spouse has significant debt, a company, property, or the like.

Will

Have you made sure that your estate will go to your intended beneficiaries? If you want to influence how your estate is shared, you need a will. This ensures that your wishes are followed when you are no longer here.

A will not only ensures that your assets go to the right people, it can also create clarity and security for those you leave behind. By deciding how and with whom your estate should be shared, you can give your surviving family peace of mind to process their grief without having to worry about inheritance disputes or guess your wishes. A will can prevent misunderstandings and conflicts at an already difficult time.

Do we need a will if we are married?

Even when married, the surviving spouse does not automatically inherit all assets when their husband or wife dies. At worst, this can mean that the surviving spouse cannot afford to remain in their home. Married couples should therefore consider whether a will may be necessary to ensure the optimal situation for the surviving spouse. With a will, you can also ensure that what your children inherit remains theirs, even if they later get divorced.

Children’s will

A children’s will ensures that you have an influence on the decision of the Agency of Family Law regarding who gets custody of your children if both parents were to pass away while the children were minors.

In a children’s will, you can state your wishes regarding who should be assigned guardianship if you, or both of you, die. This can be an individual or a married couple with whom you, or both of you, and your children have a good and solid relationship. Thus, you can help secure your children’s future and provide a secure environment that you choose.

Power of attorney for the future

What happens if you one day fall ill and can no longer make your own decisions? Many believe that their spouse, cohabiting partner or children can automatically manage their interests, but that is not the reality.

With a power of attorney for the future, you can determine who should make decisions on your behalf if you can no longer do so yourself. Without a power of attorney for the future, the Agency of Family Law will make this decision for you