Blending families is hard. So is making sure that everyone you love is protected after you’re gone — but it can be accomplished with careful planning.
REMARRIAGE & BLENDED FAMILY PROTECTION
Divorce Is Common
It is estimated that about 40 percent of current marriages in the U.S. will end in divorce. This can result in outdated beneficiary designations, guardianship conflicts, and general confusion if documents are not carefully updated.
Remarriage Happens
When you remarry, it can upend previous plans, as a new spouse can mean new dynamics and new priorities. It’s essential to review and update your estate plan to ensure it reflects your current wishes and protects both your new and existing family members.
Kids from Previous Relationships
If you remarry, failing to update your estate plan can unintentionally leave any children from a previous relationship with nothing. A well-structured plan helps ensure both your current spouse and your children are protected.
Incorrect Intestate Assumptions
Many Texans assume dying without a will or trust causes all assets to go to their spouse or kids. But state law often splits assets between the current spouse and children from a previous relationship, creating confusion and potential conflict.
Should You Consider a QTIP Trust?
Are you married now but have children from a previous spouse?
If you don’t want to depend on your current spouse to pass down assets to your children, you may want to create a Qualified Terminable Interest Property (QTIP) trust.
Why?
A QTIP lets you provide for your spouse during their lifetime while preserving the remaining assets for your chosen beneficiaries (e.g., your children) after your spouse’s death.
It provides you with control, tax efficiency, and the ability to customize terms.
Step 1
Schedule a Free Consultation
Reach out and set up a time for us to talk with each other. We won’t know if it feels like a fit until we get to talk.
Step 2
We Collaborate on an Estate Plan
Our team learns about you and your unique needs so we can work with each other to help you design your ideal plan.
Step 3
You Are Set Up for the Future
We’re committed to making sure you understand and feel confident in whatever plans we help you to create.
