Estate Planning for Second Marriages
For second marriages, estate planning will bring a new set of challenges that involve blended families and complex financial arrangements. Each spouse may have children from previous relationships, or the new spouses may have children together. One spouse may have a substantial amount of assets in his or her name, and the other spouse may have almost none. When discussing your estate planning goals, we know that you need an attorney who will understand your circumstances and work with your family.
Blending a family and planning for the end-of-life process both present individual, specific difficulties. But, combining them both through second marriage estate planning is doubly challenging and often involves hurt feelings and divergent interests. At Melone Law, we will work to resolve conflict and find a solution that suits your needs and those of your family.
In order to create the best outcome for your case, we will consider the following issues and help reconcile them through a formal agreement:
- A difference in beneficiaries in each spouse’s will
- An unequal distribution of trust assets to beneficiaries
- Financial obligations to previous spouses and/or children from previous spouses/relationships
- Logistical difficulties due to age differences in the new spouses
- Large disparities in wealth between the new spouses
- A change to or addition of an estate tax
Contact us today to schedule an initial consultation for your estate planning needs.