Estate Planning for Remarriage & Blended Families

Embarking on a second, third, or subsequent marriage is a momentous occasion, but it also brings unique challenges, especially when there are children involved from previous relationships. At Krugler Law, we understand the complexities of remarriage and blended families, and our experienced team is here to safeguard your interests and those of your children, both minor and adult.

Review Your Estate Planning Documents

If you had estate planning documents in place during your previous marriage, it is crucial to review them with our team to ensure they still reflect your current wishes. Questions to consider regarding fiduciary designations include:

• Who was named as the trustee of your trust?
• Who was named as the executor of your will?
• Who was named as the agent under your health care power of attorney, property power of attorney, or health care proxy?

If your former or deceased spouse is listed in any of these positions, we will help you identify suitable alternates. In the case of your spouse’s passing, the alternate will assume the role if you still find them appropriate. If you are divorced, we will assist in promptly removing your former spouse from these positions of power and help you designate your new spouse, a trusted friend, or an adult child.

Consider a Prenuptial Agreement

A prenuptial agreement is highly advisable when entering into a subsequent marriage. This legal document protects not only your assets but also ensures the well-being of your minor children. With a prenuptial agreement, you can safeguard your financial assets and ensure that they pass to your children, even in the event of your passing.

The prenuptial agreement takes precedence over the will when it comes to issues of separation, support payments, and property division. It provides clarity on how assets acquired before and during the marriage will be handled.

Create a Living Trust

A Living Trust is an excellent option when you want your child to receive assets but not immediately. By naming a trustee, you ensure that the assets are managed as per your instructions and only released to the beneficiary on a specified date of your choosing. Whether it’s when the child turns 18, graduates high school or college, gets married, or reaches another age deemed appropriate, you have control over the timing of asset distribution.

Maintain Open Communication

Open communication with your new partner is vital. Before marriage or moving in together, discuss how expenses will be shared, including the implications on property ownership, especially if only one party currently owns it outright.

Additionally, it’s essential to have open discussions about your estate plans, especially concerning your own children or children you may have together. If you intend to leave assets solely to your children, express this wish to avoid misunderstandings in the future.

Schedule a Consultation with an Estate Planning Attorney Today

At Krugler Law, our compassionate and experienced estate planning team understands the unique challenges of blending families. We are here to answer your questions and implement strong protections, ensuring your assets are safeguarded for your intended beneficiaries. Schedule a consultation with us today to secure your family’s future.