When marriage needs an estate plan

You know that I rarely use the expressions “always” or “never.” My usual expression is “it depends.” However, I might break that rule regarding second (or subsequent) marriages and the need for an estate plan instead of just Wills. Wills affect only probate assets, those titled in your own name, not jointly titled, and have no beneficiary designation. An estate plan looks at the whole picture and considers who will receive what on your passing regardless how the assets are titled now. For second marriages, I might even go so far as to say that every second marriage needs an estate plan. Beginning with those least affected I will explain why.

Read more: http://www.dailylocal.com/business/20160808/colliton-every-second-marriage-needs-an-estate-plan