Remarrying Can Wreck an Estate Plan. Here’s How Advisors Can Help Clients Prepare.
Second marriages can cause a mess with estate planning for children of the first marriages. One mistake is to leave assets to a trust for the second spouse without understanding the actual cash flow needs of the spouse. Families then end up fighting over how to invest the money to provide the appropriate amount of income while taking the right amount of risk. In this article at Barron’s, I cover how to address this situation by planning for the amount needed by the spouse.