Elder Care: Estate planning for previously married couples

Source: The Sentinel

In today’s society, as we age, life becomes more complicated.

More and more couples are not parting at death, but instead may be married multiple times. Many questions arise in these situations on both sides.

Can a prenuptial or postnuptial agreement address all of your concerns? What if one spouse needs nursing care? How do you preserve assets for your children from a previous marriage while respecting and supporting your current spouse? After your spouse passes, how do you protect yourself from your spouse’s children taking control? What about assets that have beneficiaries designated? Are trusts a useful tool?

The following example may provide some insight.

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