In sickness and in health, couples marrying later in life should focus on the part of the classic vows that say "til death do us part."

Although not always romantic, estate planning is a crucial component of any marriage, but especially those getting hitched in their 70s and beyond. By this point, individuals may have accumulated savings or possessions, or they may have raised a family, and have children and grandchildren. Getting down to the details of what happens to every asset after the nuptials will help keep wedding bliss alive, for the couple and possibly even those around them.

Golden Bachelor Gerry Turner and His Wedding on Live Television

Later-in-life marriages are taking the spotlight this week. The first "Golden Bachelor," 72-year-old Gerry Turner, picked the woman he "can't live without" during the premier season of the latest addition to the Bachelor franchise. He and his soon-to-be wife, Theresa Nist, 70, are getting married on live television on Jan. 4. A former contestant, Susan Noles, will be the officiant at the wedding.

See: How Golden Bachelor came to an end: a golden rose and broken hearts

The Importance of Proper Estate Planning

Failing to properly plan the parts of life that come after the wedding bells could spell disaster should the marriage not work, or one spouse dies.

"Being clear about your goals and objectives when it comes to your assets and building the correct plan to achieve your vision is very important in any relationship, but especially so in second marriages later in life," said Howard Pressman, a certified financial planner and partner at EBW Financial Planning. "Everyone will be happiest when everyone is on the same page and the plans are bulletproof."

Involving Adult Children in Estate Planning

Not everyone wants to include the adult children in the conversations, or share the decisions with them after those plans have been made, but it is an option to avoid any hard feelings after a loved one dies.

Planning for the Future: A Guide to Discussing Inheritance and Finances

As relationships evolve and new marriages are formed later in life, it's crucial to have open and honest conversations about inheritance and financial plans. The inclusion of a new spouse can create feelings of insecurity for adult children who may be considering potential inheritances for their own retirement. Additionally, the spouse with fewer assets may need reassurances that they will be taken care of.

One way to address these concerns is by considering prenuptial agreements. These agreements can help safeguard assets acquired prior to the marriage and ensure they remain protected.

It's important to reflect on the gift-giving patterns you have established with your loved ones over the years and consider if these may change after the wedding. Certified financial planner Monica Dwyer suggests discussing expectations of money, including how assets will be split before and after death. Finding a budget or financial product that aligns with your goals can help structure your financial house in a way that feels fair to everyone involved.

If you have more assets going into the relationship and want to ensure your spouse is taken care of during their lifetime, while also ensuring that your children receive those assets after their passing, creating a trust is a viable option. This allows you to outline your wishes and provide instructions for the distribution of funds.

Don't forget to review beneficiaries for all your accounts, ensuring that their spelling is correct and avoiding any accidental mistakes. Beneficiary designations actually override wills and can help bypass probate. In some cases, certain assets may require spousal consent after marriage, necessitating an update to the beneficiary form.

Taking the time to address these details is crucial in order to avoid accidentally disinheriting your children or grandchildren. By having these discussions and making necessary updates, you can ensure that your loved ones are provided for in the way you intend.

Remember, open communication and careful planning are key to maintaining financial harmony within blended families.