Don't Let Your Family Face a Cinderella Situation: Talk "Happily Ever After" Remarriage Planning with a Trumbull Will Lawyer
- By Steven Rubin
- Posted March 7, 2024
We all know how the Cinderella story went – widowed dad, wicked stepmother, squandered inheritance. Unfortunately, it's not just a fairy tale risk. Without careful planning, a spouse's passing, followed by a later remarriage, can leave children from your earlier union grappling for their inheritance. Let's ensure those glass slippers remain a fashion statement, not a tragic financial metaphor.
Why Discussing Remarriage Matters
Love should never make estate planning awkward, but open conversations now create security later. Here's what to consider:
- Your Kids or Your New Spouse? If you pass away without specifying otherwise, state laws dictate who inherits. A new spouse could receive everything, whether that was your actual intent.
- Blended Families Get Complicated: Things get even trickier if you and your partner bring children into a second marriage. Balancing fairness and providing for new spouses requires strategic planning.
- Beyond Just Wills: Basic wills may not offer sufficient protection in these scenarios. Trusts can ensure inheritances for children are set aside, managed, and distributed when certain conditions are met.
Turning Pumpkins into Protection (It's Less Magical But More Effective)
A Trumbull, CT will lawyer won't provide a fairy godmother, but they will offer something better: the tools to secure your loved ones' futures. Discuss these considerations:
- Prenuptial or Postnuptial Agreements: While not the most romantic, these documents can provide clarity and protection with regard to prior assets and spousal rights should remarriage occur.
- Trust Structures: Various trusts (e.g., QTIPs) give surviving spouses income/benefits from assets during their lifetime but preserve the underlying assets for designated beneficiaries later.
- Transparent Communication: Have HONEST talks with your loved ones. Avoid shocked heirs down the line by prioritizing openness today.
Don't Leave Your Heirs Wishing for Magic
The "wicked stepmother" issue is sadly more common than you think. Proactive estate planning ensures control over your hard-earned legacy regardless of what the future holds. If you are ready to protect the people you love by creating a plan, our Trumbull will lawyers are here to help you get started. Simply contact us at 203-877-7511 to schedule a consultation.
Contact our will and trust lawyers located in Trumbull and Hartford, Connecticut.
