Estate planning can be complicated
even without the extra issue of a second marriage. It is always best to discuss
these issues with a financial planning lawyer in California so that you are aware
of any major issues that may complicate things down the road.
The first step to take is to gather all of your important estate planning documents from your previous marriage as well as any divorce orders that deal with how the marital assets were divided up between you and your former spouse. It is important to make sure that your current spouse is added as a beneficiary to your accounts, including any retirement accounts, to the extent possible. It may not be possible to have your former spouse removed from your retirement accounts as a beneficiary because you may have a contractual obligation to pay out a share of your benefits to that spouse. Although marriage issues can be complicated, a skilled estate planning lawyer in California can help you sort things out and let you know what options are available.
If you do not yet have a new or update will with your second spouse, that is also an important thing to do and a skilled attorney can help you with that as well. You will want to make sure to account for any additional children or your spouse’s children who you would like to receive benefits. One of the things that could facilitate estate planning for a blended family is the creation of a trust that clearly spells out how you would like your assets to be held and divided before and after death.
Contact a California Estate Planning Attorney
Ave yourself the headache of trying to figure this out on your own, and contact the Law Office of Dennis A. Fordham today. Dennis A. Fordham is ready and able to help you and your family navigate the complexities of estate planning to make the process as stress-free as possible.