Results 1 to 2 of 2
  1. #1
    Join Date
    Sep 2016
    Posts
    13,916

    Default How to Make Sure That Your Assets Go to Children From a Prior Marriage

    If you remarry while holding significant assets, and want to make sure that the bulk of your assets go to your surviving children as opposed to your new spouse, how do you make sure that your assets go to your children after you pass away? Most significantly, how can you make sure that a home you own goes to your children?

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: How to Make Sure That Your Assets Go to Children From a Prior Marriage

    First and foremost, no state lets you fully disinherit a spouse. It will be necessary to review state law, including the surviving spouse's rights to opt against a will and to assert a continuing interest in the marital home (typically the surviving spouse can assert a right to live in the home for the rest of her life, even if the estate plan leaves the home to somebody else).

    It makes sense to discuss the estate plan with the new spouse, and explain how she will receive benefits that match or exceed what she would receive if she opted against the will, exercised homestead or survivor's rights or both. Or, even better, the estate plan will be completed prior to remarriage.

    Beyond that, it is important to convey the property using appropriate estate planning tools. Financial accounts may generally be left to designated heirs through beneficiary provisions, and if that is done those assets don't become part of the probate estate. It may be beneficial to place the home into a living trust, and to convey it to heirs through the trust as opposed to the estate.

    The best option, really, is to meet with an estate planning lawyer and to discuss a strategy that is likely to succeed under the laws of your state, given the full facts of your financial situation and the nature of your assets.

    1. Sponsored Links
       

Similar Threads

  1. Changing a Child's Name: Can a Mother Use Her Married Name for Children From a Prior Marriage
    By Frisbee in forum Name Change
    Replies: 16
    Last Post: 04-21-2017, 03:11 AM
  2. Calculation of Support: Calculation of Child Support With Children from a Prior Marriage
    By lawfacts in forum Child Custody, Support and Visitation
    Replies: 1
    Last Post: 12-17-2016, 07:55 PM
  3. Survivors Benefits: Survivor Benefits for the Spouse of a Widower With Children from a Prior Marriage
    By gnimelflr in forum Social Security Law
    Replies: 2
    Last Post: 11-19-2015, 01:04 PM
  4. Estate Planning Issues: Leaving Assets to Chidren from a Prior Marriage
    By MiddleChild in forum Estate Planning, Administration and Probate
    Replies: 3
    Last Post: 08-04-2013, 04:34 AM
  5. Caregivers: Rights of Spouse vs. Children from a Prior Marriage
    By Linda88 in forum Disability and Elder Law
    Replies: 10
    Last Post: 05-10-2013, 03:58 AM
 
 
Sponsored Links

Legal Help, Information and Resources