Has anybody set up a trust that would prevent a 2nd spouse (late in life) from getting surviving spouse assets?
My recently deceased FIL married a second time at 84 years old. He was married about a year before he passed. Fortunately, he had beneficiaries named on most of the larger assets. DW and SIL got the majority of the assets. He did leave his new wife an IRA with about $200K. Again, this is what he wanted and we didn't have a problem with her getting it. Still, she's not likely to live much longer and it bugs DW that 2nd wife's deadbeat kids will end up with her dad's money.
Also, when it came time to probate the Will for the remainder of the assets, it got a little messy.
When I die, is there a way I can set up a trust so that "Biff the pool boy" doesn't get the estate when DW passes. We've talked about it and both promise that our money would be passed down to the kids and grandkids, but you never know how things will go.
I'm just worried that her next house might have a pool.
My recently deceased FIL married a second time at 84 years old. He was married about a year before he passed. Fortunately, he had beneficiaries named on most of the larger assets. DW and SIL got the majority of the assets. He did leave his new wife an IRA with about $200K. Again, this is what he wanted and we didn't have a problem with her getting it. Still, she's not likely to live much longer and it bugs DW that 2nd wife's deadbeat kids will end up with her dad's money.
Also, when it came time to probate the Will for the remainder of the assets, it got a little messy.
When I die, is there a way I can set up a trust so that "Biff the pool boy" doesn't get the estate when DW passes. We've talked about it and both promise that our money would be passed down to the kids and grandkids, but you never know how things will go.
I'm just worried that her next house might have a pool.