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Estate Planning: Your Family, Your Wealth, Your Legacy.

Whether you’ve been divorced or widowed, there’s always the chance of finding new love and making the decision to get remarried.

With that said, you may also be facing a variety of circumstances which make this trip down the aisle very different from the last.

For example, you may have minor or adult children from a previous relationship or you may be entering into this marriage with assets or bank accounts which you now wish to protect.

An estate planning lawyer in Arlington, Texas or whatever city in which you happen to live will help you review all of these aspects of your situation so you can put together a plan which safeguards your interests while still honoring the love and commitment of your new relationship.

As I mentioned, a key reason to engage in estate planning right away is because it ensures protection for children from a previous relationship.

Otherwise, if you unexpectedly pass away without the proper legal documents in place, there’s a very good chance your assets will go to your new spouse – and not your children.  When your spouse dies, those assets now go to his or her children—leaving your own kids out in the cold.

This fact alone should prompt any parent to at least check in with their attorney before their big day.

But there are many other problems, which can arise if you don’t update your estate planning documents to reflect these new changes in your life.  You

For example, if you and your ex had documents drawn up together such as wills, trusts, powers of attorney and medical directives, then he or she may still have considerable control over your affairs, even now that you are remarried.  Even though in the state of Texas a Will would be read as if the ex spouse predeceased you and an ex spouses authority under a POA will be terminated upon divorce, it is still a very good idea to redo your documents even if not getting remarried.  Documents unaffected by divorce are medical directives

I know very few people want their ex to inherit their estate or to make important medical decisions on their behalf, so it’s a good idea to update your documents accordingly.

There’s also the case where one spouse may not necessarily need the benefit of inheriting the other’s assets. Such an inheritance could work against him or her when it comes to long-term care planning.  This is another very good reason to speak with your attorney before legally co-mingling your assets.

Hopefully though, you can see how it’s extremely wise for couples getting remarried to check in with their lawyer to ensure they are building their new marriage on a proper legal foundation.

If you have questions about your particular situation and would like to sit down with me, I am happy to meet with you.  Simply call our office at 817.462.5454 and ask to schedule an appointment for your Remarriage Strategy.

 

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