Estate planning can get complicated when working with divorces and re-marriages. Retirement plans such as 401ks have rules for distributing assets to surviving spouses even if remarried.

If remarried and both spouses have children from a previous marriage then it’s best to establish separate trusts to specify which assets go to which children. Another possibility is to establish a Family Trust in which the spouse of the 2nd marriage can use money from while they are alive but goes to children of the first marriage on the death of the 2nd spouse.

Greg also mentioned that assets in retirement accounts (IRAs, etc) are normally protected from creditors in marriages but are not when inherited.

Give Greg a call with any questions about estate planning for any life situation.