New York residents who are getting married for the second or third time might want to consider creating or updating their estate plan. Without a will, the state will decide what becomes of their assets. People who have children from a previous relationship or an ex-spouse may need to update their estate planning documentation accordingly.
Beneficiary designations override what is placed in a will, so people should also check these designations on insurance policies, retirement accounts and other financial assets. Divorced people may find that they have failed to update beneficiary paperwork and that their former spouse is still listed. People should also check their health care directive and powers of attorney, and they should name a guardian as well if they have not done so already.