Nothing to the step kids?

27 Oct 2023 · 1 min

Watch on YouTube

0:44

In this short video, the speaker addresses estate‑planning challenges faced by individuals in second or third marriages who want to ensure that their own children, not their stepchildren, inherit their share of the estate. He explains that the typical pattern—where the first spouse to die leaves everything to the surviving spouse, who then leaves it to their own children—can leave the first spouse’s children with nothing. To prevent this, he proposes creating a trust that holds the first spouse’s portion of the estate at death. The surviving spouse receives the trust’s income for life and may draw principal under a pre‑established plan if needed. Upon the surviving spouse’s death, the remaining trust assets pass to the first spouse’s children. The speaker concludes with a call‑to‑action, inviting viewers to click his picture for more information and to work with him on implementing this strategy.

Chapters

If you're on your second or third marriage, and for whatever reason, you don't want your estate ending up in the hands of your stepkids, this is what you could do. Often the first to die leaves everything to the surviving spouse, and often that surviving spouse leaves everything to their kids and nothing to the kids of the first one who died. To avoid this, you create a trust at your death that will hold your part of the estate. The spouse who survives can receive the income from this trust during their lifetime. They can also receive distributions of the principal if they really need it, according to a plan that you create. At the surviving spouse's death, everything left would go to your kids. So you provide for your spouse and you also protect your kids. Click my picture in the link to find out more about this and to work with me.