Estate Planning Considerations For A Second Marriage
Today, many people have been married more than once and may have children from more than one relationship. As blended families become more common, new estate planning challenges arise.
Not every family blends as seamlessly as the members of that well-known sitcom family The Brady Bunch. Oftentimes, new spouses and children do not get along. Many people worry about what will happen to these blended families once they pass away.
From our offices in Camillus, a suburb of Syracuse, the McMahon Law Firm helps clients throughout upstate New York create estate plans that protect children from disinheritance, reduce the possibility of intra-family fighting and ensure that all of your loved ones are cared for after you are gone.
Protect Your Children And Spouse
Blended families face unique challenges. Even when spouses and adult children get along, they may have differing views about how financial and health-related decisions should be made in the event of incapacitation. Without an estate plan, there is also a risk that children from a prior relationship will be disinherited by the surviving spouse. At the McMahon Law Firm, our lawyers use second marriage estate planning to address many of the concerns that arise after a second or third marriage, including:
- Who will make health care decisions after incapacitation?
- How will funeral arrangements be made?
- Who will receive which assets after your death?
- How will you ensure children and spouses are treated fairly after your death?
Our attorneys have a great deal of estate planning experience. For more than 20 years, we have been helping clients create comprehensive estate plans that make sure their unique needs are met. We work closely with clients to analyze their assets, understand their family dynamics and create estate plans that carry out their wishes. Common estate planning tools include:
- Last will and testament
- Powers of attorney
- Disposition of remains and funeral plans
- Health care proxies
- Living wills
Disputes and divides can arise at any time. Even if your spouse and children get along today, you can never be sure what the future holds.
If all of your assets are transferred to your spouse after your death, problems may arise. If you have children from a prior relationship, there is a possibility your spouse will decide not to leave them anything upon his or her later death. Through estate planning, there are strategies you can use to prevent disinheritance and ensure your property is transferred to your children.