Remarrying Can Wreck an Estate Plan; Financial Advisors Can Help Clients Prepare – Barron’s

Second and third marriages are common occurrences for the elderly. And that means when children from prior marriages are in the picture, estate planning can become an emotional and financial mess. Chronic illness and dementia can complicate matters that much more.

In these situations, trusts are often used to provide for the living spouse after the death of the first spouse, with plans to leave the remaining assets to the children of the first spouse. Attorneys create tidy documents and a financial advisor helps on the back…