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877-791-8076 / StoberLaw.com
If you are in a relationship, but not married, you have been married more than once, or you have children by more than one partner, your estate planning may not be so straight forward.
Here are a few tips and things you and your spouse should consider before agreeing on an estate plan for your family.
Estate Planning Tips:
- Provide Your Partner With Rights - There are laws that allow property to pass on to spouses and children, but no laws to protect unmarried partners and adopted children. Create a will, trust and power of attorney that distributes your wealth to your loved ones.
- Update Your Estate Frequently - Despite your good intentions, issues can arise when parents remarry. Make sure that all of your legal documents provide directions that best suit your family's needs.
- Don't Be Wary of a Pre-Nup - Before getting married again, you should talk with your spouse about what they have in mind in terms of mutual financial support for children from previous marriages. This can help eliminate confusion and ensure that the right family members receive the financial assets they are entitled to.
- Create a Trust - Trusts allow for more flexible planning. A trust will allow you to plan for scenarios that give your spouse rights, but someone else the power to manage the property and protect it (such as children).
Read this article for more estate planning tips and contact our office if you have any questions about how you can legally protect your family. Our experience, combined with our successful track record makes us Long Island’s premier law firm. Contact our office by calling 877-791-8076. You can also like us on Facebook and follow us on Twitter for the latest news stories and legal tips.
