Estate Planning and Second Marriages

When getting remarried later in life, you must consider how that marriage will affect your previous plan to leave assets to beneficiaries such as children from previous marriages.  Most think that having a will specifying who their assets will go to is enough but, after getting remarried, a will may not be enough.  Even if a decedent has a will leaving assets to their children at the time of their death, their new spouse can be eligible to receive assets through a probate process that occurs involving an “elective share” under Florida law.

To ensure your assets are passed on as you desire, it is usually recommended that you and your new spouse-to-be sign a prenuptial agreement designating what will happen to each of your assets in the event of a divorce or the death of one spouse.  If you are already married, you can also sign a postnuptial agreement to make your wishes clear as to who the beneficiaries of your assets should be.  The use of trusts that provide for your children from the prior marriage, as well as your spouse, are also common estate planning tools.

When planning a second marriage, it is crucial to talk to an estate planning attorney and put necessary documents in place to designate beneficiaries of your assets.  To contact one of our experienced estate planning attorneys, call our office at (941) 906-1231.