I’ve had children with my past spouse and am remarried. How do I ensure I provide for my children and my new spouse?
When you have blended families, preparing your will can become quite complex. If you have remarried, but would like to keep your assets separate from your new spouse’s assets, its important to set this out clearly in your will along with your reasoning for doing so. You can provide that your spouse can continue to live in your house after you die for a set period of time and that the house will then be sold and the money gifted to your children. You may also choose to provide for your children outside of your will. If you have life insurance, you may name your children as your beneficiaries and then leave your house to your spouse. When we meet with you to do your estate plan, we will review all of your assets whether they will fall under your will or not to create the best plan possible for you. We will often work with your accountants as well to make sure your plan is effective from a tax perspective.
- I’ve been told that by putting my child on my bank account with me, it will save my estate money when I die and that this child will get the money in my bank account. Is this correct?
- What happens to our children if both my spouse and I die?
- Can I designate assets to go to someone outside my will, and how do I accomplish this?
- I want to donate my organs when I die. How do I accomplish this?
- I’ve had children with my past spouse and am remarried. How do I ensure I provide for my children and my new spouse?