A second marriage is the start of a new life together that signals hope for the future and the promise of forever. Savvy couples will take practical steps to ensure the health of a second marriage. Your newly established, blended family creates the need for comprehensive planning, concise communication, and transparent clarity. Asset distribution in a second marriage may depend upon agreements made in a previous divorce. The settlement agreements in many divorces include obligations on future earnings, retirement income and accounts, and future distribution of tangible assets. Additionally, when you remarry, you need to revisit previously written wills, healthcare directives, and trusts, insurance policies, and named beneficiaries.
An accurate, detailed estate plan begins with an open, honest, transparent conversation before you remarry. This gives you an opportunity to discuss guardianship of the children you each bring to the marriage and any children you might have together. You may each wish to establish a trust that determines which assets go to your children from a prior marriage. An estate plan also lets you decide what happens to property you purchase together and gives each party assurance that your individual property is distributed according to your wishes, and that any joint property is distributed fairly and equitably.
Some of the concerns an estate plan can lay to rest include finances, real estate ownership, newly acquired assets, and your children’s inheritance. Without a will, trust, or complete estate plan, your spouse – or the state of Georgia – will make those decisions for you. If you’re savvy enough to already have an existing estate plan, remarrying is an ideal reason to revisit it. If your previous marriage ended through death or divorce without an estate plan, or negated portions of a previous estate plan, you already know the importance of creating a new one.
If you’ve recently decided to remarry and want to create a comprehensive estate plan that protects you and your new spouse, call us today. Creating an estate plan for a blended family is a complex matter. Fortunately, you are not alone. The skilled attorneys at Grissom Law, LLC are experts in Georgia estate planning law. We have the knowledge and experience to help you create the documents and safeguards you need to give yourself and your new family the peace of mind you deserve.
Disclaimer
This Blog/Web Site is made available for educational purposes only as well as to give you general information and a general understanding of the law, not to provide legal advice. By using this blog site you understand that there is no attorney client relationship between you and Grissom Law, LLC.