Second Family Trust
The Estate Planning Guide for Second Marriages in Riverside California
Second marriages have become much more prevalent over the past several years, and the legal issues associated with entering into a second marriage should be taken into consideration. In many cases, each parent has a child or children from a previous marriage and maybe bringing separate assets and retirement plans into the new union. When I counsel couples planning on entering into a blended family through a second (or subsequent) marriage, I encourage them to have candid conversations about the planning required to protect the interests of their children.
Most parents are interested in ensuring that their own children will be provided for if they pass away before their future spouse. There may be special assets such as collections, antiques, jewellery or other mementos that need to be passed on to specific beneficiaries. I help couples in these situations to have open productive conversations, so that we can design a trust that will protect their separate and shared assets while providing for the children and heirs that exist today, as well as any that may come out of the new union. Second Family Trust
We Get REsults
I have helped individuals with various backgrounds, ranging from judges and doctors to blue-collar workers and retired individuals.
How do I create an estate plan for my second marriage or blended family?
The big difference in an estate plan for a second marriage or blended family is making specific provisions for new spouses and children, ex-spouses and children and step-children. Generally, things have gotten a little more complicated since the first marriage. Maybe the divorce wasn’t amicable, or there are lingering divorce settlement issues. It’s best to settle some of these by clearly showing and stating your intent.
Legally disinherit your ex-spouse if you feel they have received a fair divorce settlement, and you don’t intend to leave them any additional inheritance. You will contractually disinherit them in your will and living trust.
Plan for stepchildren
California intestate succession laws are different for biological children and stepchildren. So, if you want to leave them nothing, make it clear by stating so in your will or trust.
Inform Ex-Spouse and Stepchildren by letter
You could send letters to your ex-spouse and stepchildren, informing them of your estate plans for them. While this is an uncomfortable discussion, it greatly reduces the risk of them contesting your will.
Contact an Established Second Marriage Trust Lawyer Serving the Inland Empire
It is helpful to have a neutral third party who understands the intricacies of the legal issues and family dynamics, who can also keep the conversation from becoming a dispute between the two while raising what can be challenging questions that will need to be resolved. It may seem like the legal issues of a couple planning to enter a second marriage may be a bit “touchy”, but I can be a positive counselor while protecting your assets, your children, and the needs of each new spouse in the future. I invite you to call me at 951.823.5138 or email me to schedule a complimentary initial consultation. It’s important to plan effectively as you begin your new life together.