Reply to How to ensure my kids inherit my money if my husband remarried and died?

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[quote=Anonymous][quote=Anonymous]We each have a revocable living trust and our assets are divided amongst the two trusts.  In the event either of us passes, the other becomes the executor of the other's trust.  In the event both of us pass, the trusts will be inherited by the children in even shares.  If the children are past their majority, they will inherit their shares.  If they are not, all assets are put in the trusts and my spouse's brother becomes the executor.  If he is not available, then my brother becomes the executor.  Even if one of us remarries, they cannot will any of the assets in the trusts to a new spouse.  They would have to withdraw assets from the trusts in order to be able to pass the assets on to a future spouse.  The trusts are in the names of the children.  Each spouse has executor rights to the access the full amount, but does no have the right to bequeath the trust assets as those are already written in to benefit the children.

You should talk to your lawyer about setting up a revocable living trust that can be inherited by your children, but that your spouse has full access to use the assets in the trust.[/quote]

We have the same, but if I die or divorce then nothing stops DH's second wife from spending down the money while he's alive. Plus she'd get whatever he earns or buys that isn't in the trust.

This is actually a big concern for me. Men tend to take care of the woman they're with as the priority. That's usually fine when it's the first wife and the children they have together because women tend to look out for their own kids. Adding in second spouses gets very messy.[/quote]

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