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    Joshua and Laura Meier Newport Beach Trust and Estate Planning Attorneys Focused on Helping Families with Young Kids
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    Nov 26 12

    Trust Solutions for Blended Families in Newport Beach

    Newport Beach Law Firm

    studies show a senior widower is much less likely to stay single than his
    female counterpart… [and that] often leaves the question of how the father can
    protect the children’s inheritance if there is a second wife in the picture. In
    that case, a trust may be a man’s best friend, according to advisors.

    Family on HillMixed families and second
    marriages are increasingly common, and while that’s all well and good (it’s
    modern life) it does create some sticky situations. Like no other era, children
    are not simply ranked from eldest to youngest, and the centuries-old laws set
    out to privilege marriage may end up muddying the waters and hurting the
    children (adult or otherwise) of previous marriages. If you and your family
    have come together differently, then it simply makes sense for you to plan
    differently and appropriately in light of your unique challenges.

    Financial Advisor recently took up
    the issues facing a specific type of blended family – one created when a senior
    widower remarries. The role of the widower is statistically proven to be one of
    the most likely to give rise to challenging situations. More than 60 percent of
    men (compared to less than 20 percent of women) are involved in a new romance
    or remarried within two years of the passing of their first spouse.

    What many fail to recognize is
    that a new set of legal arrangements automatically apply upon remarriage, the
    implications of which may conflict with previously agreed upon intentions.
    Proper estate planning can eliminate, or at least mitigate, these unintended
    consequences. Of course, as Financial
    states, the revocable trust “may be a widow’s best friend.” A trust
    arrangement can put legal muscle behind your intentions and ensure they are
    carried out as you plan.

    Any individual or family
    entering a blended family situation should consider framing assets and rights
    from the outset, and a revocable living trust is one of your most powerful tools
    to do so.

    Contact your Newport Beach
    estate planning attorneys at Meier Law Firm to discuss all of your estate planning

    Reference: Financial Advisor
    (October 16, 2012) “A Trust May Be A Widower's Best Friend

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