Estate Planning Tips In Your Second Marriage

While estate planning may be a relatively simple matter for young couples with few assets, it can be fairly complicated for blended families — those with children from previous marriages. This is because how you allocate your assets must take into account a variety of parties:

  • Your children from your current marriage
  • Your children from your previous marriage
  • Your spouse's children from a previous marriage
  • Your current spouse
  • Your former spouse

At Mehalko and Moghul PLLC, our attorneys make estate planning easy for you. We sit down with you and walk through your estate planning options step-by-step to make sure everybody you love is secure when you are no longer around. Consider these tips as you plan your estate in your second marriage.

1. Don't leave out your former spouse

Just because you divorced does not mean you should exclude your former spouse from your estate plan. If you have children together, they may need financial assistance to account for your absence.

2. Consider setting up trusts for your children

You have already been through one divorce, so you know how a divorce can impact the assets you leave behind for your kids. By establishing trusts for your children, you can safeguard their inheritance from your current or future marriages.

3. Discuss with your spouse how you will handle stepchildren

In your current marriage, both you and your spouse may have brought in children from previous marriages. This means both of you will have to consider how to account for the other's children. You may decide to include your spouse's children from their previous marriage in your own estate plan.

4. Let everyone know the details

Blended families can be complicated, and nobody likes surprises. No matter how you decide to set up your estate plan, be sure to inform every member of your family how they will be affected, to minimize the possibility for disputes during probate.

You're Not In This Alone — We're Here To Help

Located in Vienna, our firm not only counsels families in northern Virginia, but across the border in Maryland as well. If you live in Arlington, Fairfax, Loudoun, Prince William or Montgomery counties, our lawyers are happy to assist you in building the perfect estate plan for your family. Call us at 571-732-0764 to set up your first consultation, or reach out online to get started.