How Can a Second Marriage Complicate Estate Distribution Later?
- January 24th, 2018
Multiple marriages can greatly complicate estate distribution, but consulting with an experienced estate lawyer such as those at Faloni Law Group, LLC can make things much easier for everyone concerned. This article highlights some of the reasons an early consultation with qualified King of Prussia estate lawyers can make things easier at the time of distribution:
Children from Subsequent Marriages
When remarried individuals have children from both earlier and subsequent marriages, planning for the well-being of all children can be challenging and combative. Subsequent spouses may need to be reminded that the desire to provide for biological children is not indicative of feelings for a former spouse.
Faloni Law Group, LLC, makes appropriate use of trusts, direct provider agreements, and other vehicles to insure a child’s inheritance is not placed under control of the other biological parent. Failing to anticipate these scenarios can derail hopes for peaceful settlement of an estate.
Support Obligations to Prior Spouse
Court ordered support obligations and/or antenuptial agreements must be considered in estate planning. The estate planner must confirm that each required obligation is being met through the establishment of trusts, procurement of insurance assets or the use of other financial vehicles to maintain compliance. Retirement plans are often implicated in marital dissolution agreements and, if so, must be accounted for in any subsequent estate planning revisions.
Age Disparities in Spouses
In a May/December romance, the surviving children from a first marriage are often near the age of the surviving spouse. In these situations, the children typically have no desire to wait until the surviving spouse dies to receive full inheritance benefits of contemplated property or assets. The strategic deployment of trusts can circumvent such agreements and provide for a smoother relationship between surviving family members in situations such as this.
There are other issues that may arise and King of Prussia estate lawyers at the Faloni Law Group, LLC are equipped to handle every contingency before it develops. Choosing to address a problem before it exists is by far the best way to handle a potentially acrimonious estate distribution. Contact our office today to schedule your consultation.