Finding love later in life is a blessing. After a divorce or a spouse passing, we may still enjoy many years of companionship. However, blended families (each spouse has children from previous relationships), have certain minefields to watch out for.
Many of us in our later decades have lived full lives. We often have our homes paid for and retirement accounts fully funded. When we re-marry, we want to protect our assets and leave an inheritance for our children. A pre-nuptial agreement is not enough. The prenuptial is really about planning for the possibility of dissolution of that marriage, divorce. It’s not planning for a successful marriage, which we hope for through the end of your days.
We often name our new spouse as primary beneficiary and our own children as contingent beneficiaries. Our new spouse however can change the beneficiary upon our death and our children can get left in the cold.
Good Trust planning makes sure this unfortunate scenario does not happen. We make provision for the lives of both the spouses. We know you want to take care of each other. Trusts provide for your spouse after your death while protecting your own children’s interests.
When children know proper planning has been done, they are more likely to embrace your re-marriage and you’re more likely to see your children, grandchildren and great grandchildren!
Enjoy the love you’ve found again while maintaining family harmony. Call Kerlin Walsh Law 708.448.5169, email Eileen@kerlinwalshlaw.com.
Facebook Live Fireside Chat 2-21-2021: Passion & Pitfalls of Later-In-Life Marriages
I end today with a quote, by Antoine de Saint-Exupéry, “Love does not consist of gazing into each other’s eyes, but in looking outwards in the same direction.” This is how we preserve that harmonious direction for the whole family.
Note: This is an excerpt from Eileen’s Facebook LIVE on 2/26/21.
Click here to see the entire replay.
