Dad Gave It All To The New Girlfriend

25 May 2022 · 1 min

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In this short video, the speaker shares a personal anecdote about his parents' 50‑year marriage. After his mother died, his father revoked the family’s revocable trust and transferred all assets to his new girlfriend, illustrating how a surviving spouse can completely dismantle a revocable trust and redirect the estate. The speaker explains that revocable trusts offer no protection after the first spouse’s death because the surviving spouse can alter or terminate them at will. To safeguard a portion of the estate, he recommends establishing an irrevocable trust within the original revocable trust; upon the first death, the irrevocable trust is triggered and its assets become insulated from the surviving spouse’s control. He ends with a call‑to‑action, inviting viewers to follow him for more detailed guidance on implementing this strategy.

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My parents were married 50 years and within 2 years of my mom's death, he revoked the family trust and gave everything to his girlfriend. Yes, that happens frequently. A revocable trust can be completely done away with by the surviving spouse. After the first spouse dies, the surviving spouse can do whatever they want to with the remaining trust. The only way to protect against this is to create an irrevocable trust within the original revocable trust so that at the first death, the irrevocable trust comes into creation and a portion of the estate is thereafter completely protected. If you want more information about how to do this, follow me.