If you are planning to remarry or have already remarried, you need to revisit your estate plan to ensure that your wishes and those of your future spouse are protected. Here are three reasons why I advise revising your estate plan after remarriage.
Protect your children from prior marriages
Suppose no appropriate estate planning is in place. In that case, you can imagine a scenario where one spouse with children from a prior marriage dies and, after inheriting the entirety of the joint assets of the estate, the surviving spouse disinherits those children by leaving everything only to the natural-born children of the surviving spouse.
Protect your new spouse
Estate planning will ensure that the new spouse is protected after remarriage. After remarriage, if one spouse dies before updating his or her will and beneficiary designations to include his or her new spouse, the new spouse may be left without the inheritance his or her spouse wanted.
Protect your health care wishes
It is essential to have an advanced health care directive in place. By having appropriately drafted and completed legal documents, spouses can communicate their specific wishes regarding healthcare decisions and medical treatment and eliminate the potential for conflict.
Heidi S. Webb, Attorney at Law serves clients in Daytona Beach, Ormond Beach, Port Orange, and beyond with matters of Elder Law, Estate Planning, and Small Business Law. Contact her today to schedule a free consultation. Visit her page on Facebook, or see what her clients are saying to learn more about Heidi.