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Reply to "Living Trust and Will - any recs or things we should remember or include/think about? "
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[quote=Anonymous][quote=Anonymous]Think about the scenario in which one of you passes away and the other remarries. What happens to the assets? Do they become joint property with the new spouse? What happens then if the remaining party from the original marriage dies, leaving the new spouse as a widow/widower? What is protected for your children?[/quote] This is one of my priorities. We just lost our SIL last year and BIL is already remarried. I imagine that my DH would do the same if I were to pass away. I am okay with that, but I do want to protect my DDs. DH and I are creating individual trusts. Inherited money from my parents will go into my trust with DDs as successor trustees. DH is the primary beneficiary of my 403b, which will provide enough for his retirement. Our DDs are beneficiaries to my inherited IRA(s). [/quote]
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