Law Offices of Connie Yi, PC - estate planning
Tell Us About Your Case

For the safety of our community, clients and staff, we have suspended all in-person meeting effective March 17, 2020. All consultation meetings will be via Phone or Zoom Video Conferencing. Please contact us at 925-484-0888 or email us directly at [email protected] to schedule the consultation.

Bay Area Estate And Tax Planning Law Firm
Estate Planning
Trust Administration and probate

Remarrying couples unquestionably need to focus on estate planning

| Sep 18, 2020 | Estate Planning |

Many remarrying California individuals fail to timely consider and update existing estate plans to reflect new realities.

Don’t be one of them.

Many remarrying California individuals fail to timely consider and update existing estate plans to reflect new realities.

Don’t be one of them.

It likely took a bit of time, effort and self-education to get a sound and tailored plan in place, with the same being true of your new partner. If you leave your plans largely or wholly untouched following a second or subsequent marriage, it’s apt to become true that what once made sense will over time – or even instantly – dissolve into irrelevancy.

In fact, the damage that can flow from a lapse in planning in the wake of a remarriage can be both material and permanent. A recent Barron’s article on the subject matter duly stresses that “the consequences for even unintentional missteps can be devastating.”

Examples to illustrate the downsides are many and variable.

Here’s one: Note that a failure to change beneficiaries on retirement accounts and insurance policies can inadvertently result in a former spouse getting all the proceeds to those assets. Many remarried individuals blanch even contemplating that possibility.

And here’s another: If revised planning isn’t timely attended to, a fateful outcome might potentially arise that features a rift – and sometimes litigation – between a current spouse and children from a prior marriage.

Remarriage often yields intense happiness for individuals who know they got it right the second time. Soundly revised estate planning can contribute to that contentment.

A proven attorney with an integrated background in estate administration and tax/financial planning can provide further information.

Archives

FindLaw Network

Recent Blog Post

Even a fortune can disappear without sound estate planning

Some figures baffle.Like the speed of light. Like the age and size of the universe. And like estimates pegging the personal fortunes of America's richest families.Consider this imagery relevant to the storied Vanderbilt family for a moment: a pile of money equaling...

How family dynamics affect estate conflicts

An old joke is that wherever there's a will . . . there are greedy relatives. While there is indeed truth in that adage, that's by far not the sole dynamic at play in most estate battles.The truth is that each of the decedent's heirs and family members brings a...

View More Blog Posts