Remarriage should spark a renewed interest in your estate plan, according to a CNBC article “Getting remarried? Protect your assets and your interests.”
Most of the difficulty in an estate plan caused by divorce and remarriage can be avoid if the estate plan is updated properly to reflect the circumstances.
The CNBC article lists some common estate planning mistakes that people make when getting remarried, including:
- Not deciding whether beneficiary designations on financial accounts should be changed.
- Not having a plan for which assets can be comingled with the new spouse’s assets and which should not be.
- Not having an estate plan at all.
- Not considering a prenuptial agreement.
- Failing to give proper verbal instructions to family members.
- Not deciding whether a house needs to be re-titled.
- Not purchasing long term care insurance or otherwise planning for nursing home care.
An estate planning attorney and probate attorney can guide you in avoiding the problems.
The attorneys and team at Nickerson Law Group help families with estate planning, probate, guardianship, and special needs trust planning in Austin, Cedar Park, Round Rock, Georgetown, Lakeway, Bee Cave, Dripping Springs and the central Texas area. For more information and to learn about our firm, visit Nickerson Law Group’s website. www.estateplanningaustintexas.com
Reference: CNBC (July 28, 2016) “Getting remarried? Protect your assets and your interests.”