Estate Planning Tips for your Second Marriage

The first, and simplest, recommendation is to prepare and execute updated will or trust documents for you and your current spouse to ensure that each of you are protected. In addition to providing for your current spouse, you want to consider any children you have with your previous spouse or in this relationship, and specify any bequests for their personal care or use in the event of your passing. Your estate plan should include distributions for both your current spouse, and your children, as well as ensure any obligation you have from your first marriage are also satisfied.  This more then likely means ensuring that any life insurance obligation you have from your first marriage are up to date, do not have any liens or loans taken against them and that they continue in effect with all premiums paid in a timely fashion. Otherwise, your first spouse may have a claim against your estate, which will disrupt the updated plans you have for your children and current spouse.

The second recommendation, is to update all beneficiary designations on your retirement accounts, to ensure that those accounts pass, outside of your will, to the appropriate persons. Whether this be your children from this or a prior marriage, or to your current spouse. You want to ensure those designations have been updated upon the division of those accounts, in the event this was agreed to upon divorce, or if you establish new accounts after marrying your current spouse.

The third recommendation is to update your medical directive and power of attorney documents to reflect either your current spouse or adult children to make decisions on your behalf, instead of leaving old documents which do not reflect your present requests or preferences. You want to make sure that your current spouse and not an ex-spouse is in control of your money or health related decisions in the event of your incapacitation. This could leave your children and current spouse powerless to assist you in a particularly hard time.

Contact Us For Help

Contact Us For Help

Your Family,
Your Future


The information you obtain at this site is not, nor is it intended to be, legal advice. This website is designed to provide general information only, and does not represent the opinions of Shane and White, LLC attorneys. The information is not guaranteed to be correct, complete or up to date with recent legal developments, verdicts or settlements. You should consult an attorney for advice regarding your specific facts/circumstances/case. We invite you to contact us and welcome your calls, letters and emails, but note that contacting us alone does not create an attorney-client relationship. If you would like advice regarding your individual situation, you should contact Shane and White, LLC. to schedule a consultation to obtain legal advice. Please do not send any confidential information to us until such time as an attorney-client relationship has been established.

No aspect of this advertisement has been approved by the Supreme Court of New Jersey.