Basic Estate Planning for Second Marriages

4Very often, people need advice for estate planning for their “blended family”. This means they have a spouse and children from a previous marriage. The previous marriage may have ended due to death or divorce. Also, the children may have been born out of wedlock and marriage to the biological parent never took place for a myriad of reasons. Is there a way to set up a plan so that if the current spouse survives, the spouse is provided for, and when the spouse dies later, the children from the previous marriage/relationship are given some share of the estate? Establishing a Qualified Terminable Interest Property Trust (QTIP) can help meet these goals.

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    Edward D. Bender

    Ed practices primarily in the areas of estate planning, taxation and estate & trust administration. The estate planning area commonly includes planning for business owners, and Ed counsels them on their succession planning issues as well as their general corporate matters.

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