If you remarry and leave everything to your new spouse, your kids from before might lose out. A QTIP trust lets your spouse live off the assets while guaranteeing your children inherit what's left.
If your spouse dies and you remarry, or you divorce and remarry, you have to have a plan to protect your children. If something were to happen to you and you've left everything to your new spouse thinking that they're going to protect your children from your first marriage, that is not a good plan. It's nice to think that people would do the right thing, but I'm here to tell you that they often do not. And the reality is, in a second or third or fourth marriage, it's not uncommon for a person to feel torn between the needs of their current spouse and children from a prior marriage. The good news is that if something were to happen to you, there is a way to meet the needs of your current spouse and children from a former marriage by creating a certain kind of trust. This is a big topic, so sign up for my newsletter in my profile link to get more details about this. But for now, all you need to know is that it's called a Q-Tip Trust, and it allows you to name your current spouse as the lifetime beneficiary of the property in the trust if something were to happen to you, and your children as the final beneficiaries. So your
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