Remarriage & Blended Family Planning in Greenville
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Protection for Blended Families and Remarried Couples
Blended families estate planning in Greenville is essential for those entering a subsequent marriage. It’s an exciting time, but it can be stressful if you have children. The challenges increase if your new spouse also has children from a previous marriage.
Blending a new family has its challenges, whether your previous marriage ended in divorce or widowhood. You need to protect yourself and your children (minor or adult). The compassionate and experienced team at ChaceLaw Limited Company can help ensure proper protections when getting remarried.
Review Estate Planning Documents
If you had estate planning documents in place during a previous marriage, review them with us. Ensure that they still reflect your wishes. If not, edit these documents immediately. When it comes to your fiduciary designations, ask the following questions:
- Who was named as the trustee of your trust?
- Who was named as the executor of your will?
- Who was named as the agent under a health care power of attorney, property power of attorney, or health care proxy?
If the answers to these questions are your former or deceased spouse, give us a call and review your alternates. Having a former spouse as your executor means you need to review your estate plan and make updates. Your alternates can take your former spouse’s place if that remains your wishes. In the case of divorce, remove your former spouse immediately. Instead, name your new spouse, a trusted friend, or an adult child as your executor, trustee, or agent.
Consider a Prenuptial Agreement
Since you are moving into a subsequent marriage, consider creating a prenuptial agreement. This will protect you, your assets, and your minor children. A prenuptial agreement safeguards the financial assets you bring to the marriage. It ensures your new spouse does not control them upon your death, especially if you want the assets to go to your children.
The prenuptial agreement can take precedence over the will regarding separation, support payments, and property division. It can outline how assets are kept individually or handled during the marriage.
Create a Living Trust
A Living Trust is an excellent option when you want your child to receive assets, but not immediately. Name someone to manage the trust, known as the trustee. They will follow your instructions and ensure the beneficiary does not receive any assets until the date you specify. This can be when the child turns 18, graduates, gets married, or reaches another age you decide.
Keep an Open Line of Communication
Keep an open line of communication with your new partner. Discuss how expenses will be split if you plan to move in together before marriage. Address whether payment of expenses will provide part ownership in the property, especially if only one of you owns it outright.
Discuss your plans for what is being left behind to your children or any children you might have together. Express if you only plan to leave assets to your children and not your new spouse’s children.
Schedule a Consultation with our Estate Planning Attorney Today
The compassionate and experienced estate planning team at ChaceLaw Limited Company understands the challenges of blending families. We can answer your questions and help put strong protections in place to ensure your assets go to your chosen beneficiaries. Contact our office today by calling (864) 268-8244 or filling out our online contact form to schedule a consultan.
By focusing on blended families estate planning in Greenville, you can protect your assets and ensure your loved ones are cared for according to your wishes.
Protect Your Family After Remarriage
Create an estate plan that safeguards your spouse, your children, and your future.
