Debbie Reynolds passed away not long ago at age 84. Confession time. I must admit that as a youngster I always had a crush on Debbie Reynolds.
What Happens If Your Spouse Remarries?
Do you remember back when you were a child and Mom or Dad would read you a bedtime story? As you were tucked into bed, all sorts of characters and creatures would float through your imagination. Often, these stories held an important lesson or message for kids. However, there are lessons for adults in these stories as well. In today's episode of "Estate Planning by the Book", we will examine the story of Cinderella.
Times Have Changed
Remember the TV sitcoms from the 1950s and '60s that are now being rerun on late night TV? The TV shows "Ozzie and Harriet" or "Leave it to Beaver" both told stories of families consisting of a husband and wife and their two children. These programs portrayed what is called the traditional family in America. That was years ago and things have changed a lot since then.
Multiple marriages frequently bring complexity to estate planning. While some people need a few tries to find true love, just one slip up on a will can cost the heirs of a past marriage the entire estate. This potential for error can be something that many people overlook.
Using The Family Cabin
Mom and Dad have passed away, leaving the behind the family cabin. Now that summer has finally arrived, the cabin on Round Lake is ready for fishing, waterskiing and canoeing. You and your children have been eagerly awaiting the opportunity to spend some quality time together "Up North".
What Happens After You Pass Away?
When you die and if your spouse remarries, will your spouse's new husband or wife and the stepchildren inherit your children's share of the family inheritance? This may be difficult for some people to think about, but it is something that married couples may want to consider. This is especially true in an era where some people are living much longer lives.