Second marriages often mean blended families with children from previous relationships, along with separate assets. While remarriage can provide a fresh start personally, it also creates challenges.
Without careful estate planning, many couples risk family conflict and unintended disinheritance. Here are some things to keep in mind.
Understand what changes automatically occur under the law
One of the most significant errors many people make is simply failing to update their estate plan after getting remarried. Wills, beneficiary designations and powers of attorney previously created may no longer reflect your wishes and result in unintended consequences, such as your former spouse receiving a share of your assets.
California law automatically removes a former spouse as an heir and as a power of attorney (POA). However, if the documents aren’t updated, there could be confusion or challenges.
Protect your children
Another mistake people often make is assuming their spouse will do the right thing for their children. They leave everything to their current spouse and trust that the spouse will later provide for the children from the previous relationship.
However, a surviving spouse generally has no legal obligation to leave assets to their stepchildren unless it’s stated explicitly in the estate plan. The spouse may remarry or face financial pressures that divert assets away from your children, thus leaving them without an inheritance from you.
Other updates may be needed
Some people forget to update the beneficiaries on retirement accounts, life insurance policies and payable-on-death accounts after remarriage. These designations override wills and trusts and could result in unequal distributions among heirs or assets bypassing your estate plan.
Most estate planning mistakes occur because couples avoid having uncomfortable conversations about inheritance and fairness. Unfortunately, this often results in misunderstandings and resentment in blended families. Having experienced estate planning guidance can help you protect your family.