John Parr Attorney at Law Olympia, WA probate law, remarriage and Revocable Trusts


Probate Law, Remarriage of parents and Revocable Living Trust John Parr, Attorney at Law, Probate Law, Olympia at www.parrlawfirm.com talks about parents remarrying and its impact on families, and why to consider a Revocable Living Trust to manage assets. This solution avoids probate, and makes a clear plan for transferring assets.. Questions and Answers 1. How to Prevent Disinheritance of Your Own Children Most couples have two conflicting goals. On the one hand they want to take care of their surviving spouse. On the other hand, a majority of people want their children or other loved ones to inherit something when they die. This problem is enhanced when dealing with a second marriage with a blended family of my children, your children and our children. The two goals can be in conflict and it requires careful estate planning to serve both goals. The most common way that children are disinherited is by naming a spouse a primary beneficiary or a joint tenant, using a community property agreement, or making your spouse the heir of a "love and affection" will. For example, Husband (H) and Wife (W) have two children. H dies. W gets all of H´s assets outright through a love and affection will, community property agreement, joint tenancy or beneficiary designation. W is lonely and remarries Second Husband (H2). W wants to show her love and commitment to H2 so she does a "love and affection" will naming H2 as the heir to her estate (which includes H´s assets). W dies and H2 gets <b>...</b>

More Topics from "Videos"