Planning a second marriage presents many unique and complicated circumstances particularly as it relates to your estate planning. What follows are five critical tips that you need to consider in your consultation with an estate planning attorney before the second marriage. Getting married for a second time is very common throughout the United States but estate planning and financial planning issues that result from a second, even a third marriage can be anything but common or simple.
Without taking the time to plan, you could struggle later on with legal issues surrounding your first and your second marriage. It pays to set up a meeting now with an estate planning lawyer who can help you before any challenges are encountered.
Some of the most common estate planning issues that crop up for second marriages include:
- Â Â Â Â Â Common law versus community property
- Â Â Â Â Â Ownership and expenses
- Â Â Â Â Â Inheritance timing
- Â Â Â Â Â Remarriage protection
- Â Â Â Â Â Use of the home
If you previously created an estate plan prior to your new marriage, make sure that that plan is revised with your new family in mind. Things can get especially complicated when it comes to children from previous relationships but having an estate planning attorney walk you through all of your options can give you a broad overview of what to expect as well as a plan that is specifically aligned with your individual needs.
