Estate Planning for Second Marriages

The Need For Proper Estate Planning In Second Marriages

Researched and written by Tammy Chavez, third year law student at the University Of Dayton School Of Law, and a former law Extern for our Firm.

Estate planning Plays A Crucial Role For Second Marriages

estate planning second marriagesNowadays, second marriages are not uncommon. In fact, 40% of all new marriages involve remarriages. Regardless of the reason for remarriage, estate planning is more important than ever for second marriages. Estate planning plays a crucial role for second marriages, in ensuring a person’s assets are distributed according to his/her wishes.

In order to relieve some of the confusion surrounding estate planning with second marriages, I had the opportunity to discuss this confusing topic with Holzfaster, Cecil, McKnight & Mues’ very own specialist in Estate Planning, Trust and Probate Law, Mr. Joseph Balmer.

In interviewing Mr. Balmer, he stated “three things that I always want to look at are: (1) are we looking to take care of the spouse during her lifetime while also preserving assets for the children of a prior marriage? (2) How do we need to title assets to accomplish our objectives? (3) Do we need to consider estate tax … Read More... “Estate Planning for Second Marriages”