I recently had a client call me and request that I set up a trust for their brother. The brother is getting married in about 6 weeks, and the brother wanted to set up a trust to protect his assets from being claimed by his new wife. This was going to be a second marriage for the brother, and the brother wanted to keep the assets he earned during his first marriage separate from his new wife, so that his kids from his first marriage would be able to inherit those assets. I know I could have helped the brother to accomplish what he wanted to do, but I was not able to help him because I am … [Read more...]
Estate Planning for the Blended Family: Planning to Keep a New Spouse and All the Kids Happy
The 1970’s TV show “The Brady Bunch” depicts a blended family - a family where the spouses have remarried and kids are not all from just the married couple. The theme song goes like this: “Here's the story of a lovely lady, who was bringing up three very lovely girls. All of them had hair of gold, like their mother, the youngest one in curls It's the story of a man named Brady, who was busy with three boys of his own. They were four men living all together, yet they were all alone. 'Til the one day when the lady met this fellow, and they knew that it was much more than a hunch, that this … [Read more...]