Estate planning involves confronting some very sensitive topics, but there’s no way around it if you are a practical person. With this in mind, let’s look at the subject of remarriage, especially if you have children from a previous marriage.
Being in love to the extent that you are willing to commit to marriage is obviously a profound feeling. When you are in this state of mind, you may naturally want to open your heart completely and display selfless generosity.
At the same time, it is wise to be aware of the statistical data. According to an article on the Psychology Today website, 67% of people who get married for the second time eventually get divorced.
You might think that the third time is the charm. In fact, 73% of third marriages eventually end in divorce according to this article.
Given the above statistics, it is kind of difficult to justify entering into a second or third marriage without considering the possibility of the execution of a premarital agreement.
Additionally, the implications are even more profound if you have children. Even if your marriage was to withstand the test of time, your surviving spouse may not choose to provide inheritances to your children in a manner that would have been consistent with your wishes.
With some intelligent estate planning, you can actually satisfy all of your objectives. It is quite possible to provide adequately for your spouse as you make sure that your children receive their inheritances. If you’re interested in exploring your options, don’t hesitate to give us a call at (408) 356-9200 to schedule a free consultation.
- Sidestep Probate and Reap Additional Living Trust Benefits - February 16, 2024
- There’s No Better Way to Say “I’ll Be There for You” than with an Estate Plan - February 1, 2024
- Estate Planning Lessons from the Movies – Part I - January 18, 2024