A common estate plan fails when the surviving spouse remarries. Instead, create an irrevocable trust at the first death that gives the survivor income for life, then passes the principal to the deceased spouse's children.
In the entire universe of plans, this is one of the absolute worst. You could not come up with a plan much worse than this. This kind of plan rarely works the way you want. More often than not, this is how it works. The surviving spouse gets married again. If the surviving spouse is a guy, that's highly likely. After a few years into the new marriage, this plan is out the window. The better way to accomplish this is for both of you to agree while you are alive that at the death of the first of you, an irrevocable trust will be created to hold the estate of the person who died, their half of the total estate. That irrevocable trust will totally protect that half of the estate. The income generated by it can go to the surviving spouse for their lifetime. Then at the death of the surviving spouse, whatever is in that irrevocable trust goes to the kids of the person who died first. If you want more education on this, click on my bio link and join my school community.
comment workshop.free still need plan to keep people out of court. learn how to in less than an hour
