Second Marriages and Women with Money

5 Jun 2023 · 0 min

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In this brief talk, the speaker addresses estate‑planning challenges that arise when two individuals enter a second marriage, each potentially bringing substantial assets. He highlights the dual concerns of keeping each partner’s money and property separate during the marriage—especially if a third marriage occurs—and ensuring that each partner’s children receive the intended inheritance. The proposed solution is to establish separate revocable trusts for each spouse. These trusts keep assets distinct while the couple is alive and provide clear, enforceable instructions about what each set of children will inherit after the parents pass away.

In today's world, both parties may come into a second marriage with significant holdings. Both parties may have significant concerns about maintaining separation of money and property. And both parties will be concerned about what their kids get when they exit the planet. A great solution to all these issues may be to create separate revocable trusts. Separate trusts will maintain separation of the assets during life, which is important if there's a third marriage, and create certainty for each party about what their kids will receive when they exit the planet.